I am currently in the Portals track of the Portal and Integration Airlift in Seattle.  This morning we looked at the new content integration pack (SPARK) for Content Management Server and Sharepoint Portal Server.  Up to date the integration has been pretty limited and kinda naff ... but SPARK is looking really great.. we looked at web parts in SPS that look into CMS to list content, publishing content in CMS that links in docs in SPS, rendering of docs in CMS from SPS etc... Take a look at it:

http://www.microsoft.com/windowsserversystem/sharepointconnector.mspx