It's the summer of Express on Channel 9
I'm still installing the Visual Web Developer 2005 Express Edition Beta now. Maybe they should've used bittorrent for that gi-normous .NET 2.0 Beta download ;-) I can't wait to win that damn xbox with my l33t c# web skillz.
[UPDATE]: It's installed. At first glance I'd have to say I like it. (standards compliance is always a good thing!) I'd highly recommend grabbing the separate installs for the .NET 2.0 Beta and SQL Server 2005 Beta. Downloading and installing those first will save you a tremendous amount of time. (more versions of Express)