It's finally available!  Seriously - this CTP has quite a bit of features that they have added and you can start to see that VSTS is and will continue to be a strong if not the best ALM offering.  The new features are added to Head over to Jeff Beehler's blog post to find out more details of what has been added...

I haven't picked a favorite feature just yet :)  The three I just really like the most across the whole offering:

• New Team Build System based on Windows Workflow Foundation
• Historical Debugging (this will really help with the Debug and Repro scenarios)
• Great Test Case Management System

Here's a list of all the new features!

Architecture Edition

• Exploring the existing code structure
• Designing process flow as activities
• Designing user interactions with systems
• Designing system functionality as components
• Visualizing and designing types in systems
• Visualizing and designing interaction sequences in systems

Development Edition

• Simplify Code Analysis rule selection with rule sets
• Find and fix a bug using the historical debugger
• Identify the test impact of code changes
• Find a bug on a separate machine using the standalone debugger

Database Edition

• Building and using an off-line representation of your operational database as a “sandbox” development environment.
• Using Data Generation to custom-build data for testing your database application.
• Making and unit-testing schema and code changes in an off-line environment.
• Performing static code analysis of your programmability objects.

Test Edition

• Planning a testing effort
• Executing manual test cases
• Verify the fix
• Automate a manual test and add validation.

Team Foundation Server

• Managing an Agile schedule
• Easier reporting from Excel
• Managing features with the CMMI Process
• A new Add Files to Source Control wizard and support for drag and drop from Windows Explorer to Source Control Explorer
• An enhanced, non-modal conflict resolution experience, integrated into the pending changes tool window
• A new history view that shows labels applied to a file as well as how changes were merged across branches
• A new automated build system built on Windows Workflow Foundation, featuring dynamic build machine allocation from a machine pool and distributed build functionality
• Rollback for a check in (currently only available at the command line)
• Many Source Control Explorer usability enhancements

Be sure to head to their Connect site with your feedback!

Ed B.