We just got a new logo to reflect the progress we are making with IE7 http://blogs.msdn.com/ie/archive/2005/08/12/451099.aspx
We had to change the style on the team blog at http://blogs.msdn.com/ie to contain the full size logo as we didn't want to resize the nice work!

A new logo might not seem like the most important piece of work facing us but I think it looks great. You'll see more user interface changes for IE7 come in later in the project now that the infrastructure is in place in the first beta. Having a new logo will reflect the new experience.

Sandi Hardmeier one of our MVPs got the news out a little earlier than us on her own site at http://www.ie-vista.com/breaking_news.html where she's preparing to help support users of the new browser version.

Thanks
-Dave