Share point Designer 2007 is a new designer tool for creating share point websites rolling out with 2007 Microsoft® Office system.
With
Microsoft Expressions web designer and Visual studio 2005, Share point Designer will empower web designers to create feature rich and exceptional standards-based professional websites.

Share point Designer 2007 allows enterprise solution creator and content author to automate business processes and build efficient application on top of the share point platform and tailor the application to business IT needs.

Share point designer 2007 specific capabilities

·         Create share point master pages and web parts.

·         Create integrated data views, lists and forms on different data sources (SQL Database, XML, Web services, share point list and document libraries).

·         Building no-code applications and workflows with workflow designer.

·         Create and customize CMS template and summary pages.

·         Build interactive, workflow-enabled applications tailored to your organization needs.

·         Build reports using capabilities like calculated fields, conditional formatting, sorting, grouping and filtering.

·         Use prebuilt application template for greater productivity.

·         and many more …

 

I would encourage ISV’s and Web designers to check out the following references to get more info on share point and other 2007 Office products

http://www.microsoft.com/office/preview/default.mspx
http://blogs.msdn.com/sharepoint/archive/2006/01/12/511912.aspx
http://www.microsoft.com/presspass/press/2006/feb06/02-5OfficeMoreOptionsPR.mspx