The Microsoft Professional Developers Conference (PDC) will be held in Los Angeles October 27- 30. Registration opens today at: http://www.microsoftpdc.com.
This PDC will be one of the first really big showings of the Rosario release of Team System. According to Brian Harry, Group Product Manager and Microsoft Technical Fellow, there will be a number of talks, demos, and so on showcasing features planned for the Rosario release.
There is a Community Technology Preview (CTP) copy of Rosario available for download in a Virtual PC image.
If you don't know what Rosario is, it's the code-name for the next release of Visual Studio Team System, which is different than just Visual Studio Professional Edition (more commonly referred to as the IDE component of VS). Depending on who you talk to, the code-name for the next release of Visual Studio is called VS10 or Dev10.