My download of the May CTP is complete. The installation process includes an informative message about VSTS:
Welcome to the Visual Studio 2005 Community Technology Preview May 2005 DVD
This Community Technology Preview includes functionality from the Visual Studio Team System, a new suite of software lifecycle tools that will ship with Visual Studio 2005. In the summer of 2005, we will release a Beta of Visual Studio. Please be aware that this Beta will not include the Team System functionality. We hope to release a formal Beta of the Team System by the end of the year. We're providing this early look at the Team System functionality so that we can get feedback on the product and make any necessary changes to our plans.
All previous caveats about the Community Technology Preview program apply to this build: don't install it on machines you care about, be aware that you may have to reformat your drive in order to completely uninstall, and the feature set is incomplete and unstable in many ways. The purpose of these builds is to help you contribute to the development process.
To that end, please submit any and all comments, feedback, or concerns to: http://msdn.microsoft.com/whidbey/newsgroups.
We look forward to hearing from you.
I'll do a post later about the VSTS functionality available. Installing now... 🙂