VSTS pricing is always a popular topic (see posts in January and June). Finally the speculation is over, and the pricing was announced publicly today.
Microsoft Details Pricing and Licensing for Visual Studio 2005 and Simplifies Microsoft Developer Network Subscriptionshttp://www.microsoft.com/presspass/press/2005/mar05/03-21VS2005PR.asp
Frequently Asked Questions http://msdn.microsoft.com/howtobuy/vs2005/faq/default.aspx
[Update 3/24] Rick LaPlante, general manager of VSTS, posted a great pricing grid here. He also talks about the server pricing.