Team Foundation Server 2012 introduces a number of new features.  One highlight is the redesigned Web Access which includes new Agile Planning tools.   See these products in action here!

Note that the standard, updated Web Access is part of TFS 2012 and licensed via the TFS CAL (just as it was in earlier versions of TFS).  However, the new Backlog/Spring Management features, located on the updated Web Access site, require an additional license.  Once you have the appropriate license, the features can be enabled via TFS user permission settings, which are not enabled by default.

More specifically, with a TFS CAL you can access/use any part of the Web Access interface EXCEPT the “Product Backlog Tab” where backlog management and Agile planning is done.  To use these features, you personally must be licensed with VS Test Professional ($), VS Premium ($$) or VS Ultimate ($$$).

So, these screens/features DO require one of the additional VS licenses above, in addition to a CAL:

Again, See these products in action here.

This shows some new features in TFS 2012 that require ONLY A TFS CAL (i.e. no additional VS license).  These are in addition to the standard TFS functionality like viewing/editing Work-Items, browsing source, etc:

 For more info, go here.

 Another way to think of it... TFS 2012 Web Access now has 3 levels of user permissions that tie to three license options: 

• Limited   (no TFS CAL required)
• View My Work Items

• Standard   (TFS CAL required)
• View My Work Items
• View All Work Items
• Standard Features
• Agile Boards (second part of above)

• Full   (VS Ult, Prem or TestPro with MSDN required (TFS CAL is included in MSDN by default)
• View My Work Items
• View All Work Items
• Standard Features
• Agile Boards  (second part of above)
• Backlog and Sprint Planning Tools  (first part of above)
• Request and Manage Feedback  (first part of above)

For more on TFS licensing concepts see this previous post.