.NET Framework 3.0 will be released in 2006

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Why? Simple - WinFX is being renamed .NET Framework 3.0 :-) IMVHO this is an overdue rename and very welcome.

WinFX ultimately was .NET Framework 2.0 with lots of great new stuff - just in the same way .NET Framework 2.0 was Framework 1.1 with lots of great new stuff.

I will let Somasegar explain in detail.