According to this article, Microsoft's Developer Division VP announced in Tech Ed today, that VS 2008 and .Net FW 3.5 will come out this month (November). Both, together with Windows 2008, were originally expected to be released in Q1/08.
This is good news, if it'll actually happen (only 3 weeks left till the end of the month and Microsoft is not known as a timely release-schedule adherent, to say the least).
I've been using Orcas since early betas and loving it (read this and this). Looking forward to getting my hands on the real thing. I especially look forward to the new features in WCF (such as the ability to turn any data source into an RSS/ATOM feed) and the new improvements in WF (Workflow Foundation). Hopefully, I'll be able to write a fuller review by month's end.