If you have not heard yet, VS2008 was just Released to Manufacturing! If you have an MSDN subscription, you can download it right off the web site. Not only that, but its been posted as an Akamai download, which means that its super fast. At home, I was getting 600-900kbps download speeds. Righteous!
Anyway, back to the topic. VS2008 has been re-written to take advantage of the new multi-core processors that are so prevalent these days. That means compile times can be dramatically reduced. Somesagar has a good BLOG posting on some of the improvements. Specifically, Visual Studio is taking advantage of some of the new thread pool improvements.
Also, I would encourage everyone to check out this document which details all of the new features in 2008.