Visual Studio 2005 (Standard, Pro, and Express versions) and SQL Server 20005 has been released and are avaialbe for download for MSDN subscribers.
For a good overview of the new features in Visual Basic 2005 check out Ken Getz's article. For more in depth information you can find a collection of VB 2005 articles here. For SQL information visit the SQL Dev Center 2005 page.
For those of you that are not MSDN subscribers you can either purchase an MSDN subscription or the bits will go on sale from resellers after the November 7th launch event.