The "generation" of Microsoft development products that will be released is visual studio code name "Orcas", aka VS9, aka VS2007. We are planning for a campus launch some time semester 2. However there is a public beta out that is pretty stable. The beta works off .Net 3.5 and also extends C# with things like LINQ.
If you are interested in downloading it go to link alternatively i may be able to get my hands on some burnt copies of the software.
