At MIX10 Microsoft announced availability of Windows Phone Developer Tools. With the emulator, you can build and test your Windows Phone 7 Series applications now.
The CTP, available for download here, includes the following:
- Visual Studio 2010 Express for Windows Phone CTP
- Windows Phone Emulator CTP
- Silverlight for Windows Phone CTP
- XNA 4.0 Game Studio CTP
You can videos and find samples at the Windows Phone site for developers.