The wait is over...Visual Studio 2008 has been released...you can download it now from MSDN Subscriber downloads:
On Monday, Nov. 19, Microsoft announced that Visual Studio 2008 and the .NET Framework 3.5 were released to manufacturing (RTM). With more than 250 new features,Visual Studio 2008 includes significant enhancements in every edition, including Visual Studio Express and Visual Studio Team System. Developers of all levels – from hobbyists to enterprise development teams – now have a consistent, secure and reliable solution for developing applications for the latest platforms: the Web, Windows Vista, Windows Server 2008, the 2007 Office system, and beyond. Learn more about Visual Studio 2008.
My personal favorite parts are the new design view for ASP.NET apps, including split view, and the in-box inclusion of the ASP.NET AJAX Extensions. Lots more good stuff in there.