As Dave Weller mentions on the XNA team blog, the Community Technical Preview (CTP) for XNA Game Studio 3.0 is out (as of May 7). Below is a video and some source code for getting started with it.

Here's the recipe.

Ingredients:

• One (1) Zune, 4GB, 8GB, 30GB, Zune 1, Zune 2, whatever.
• Zune firmware version 2.5
• XNA Game Studio 3.0 CTP
• Visual Studio 2008 (student? get it from DreamSpark for free)

Preparation:

• File -> New Project -> Zune Game (3.0)
• Build game as usual, tuning screen for 240x320 resolution, and only a few controls.
• Connect Zune
• Tools -> XNA Game Studio Device Center: Add your Zune and set it as default
• Deploy to Zune

And, unlike most online recipes, you can download the final product and try it for yourself!