Addendum: What does it mean, "Hosted"? you may ask. This means you can try out Visual Studio 2005, without installing anything on your own machine. Suppose you have a machine at work and you are not permitted to install additional software not on the approved list. Or maybe you just don't want the hassle of installing beta software on your own sweet setup. This "hosted" experience for allows you to try out Visual Studio 2005, using a remote machine. You'll connect remotely via terminal services. When you connect, the remote machine will actually be running Visual Studio 2005, and the screen will appear in full fidelity. This is not a demo, this is the real thing. You can build apps, compile, test, debug.
You will need to register in order to try out VS2005 in the hosted experience.