http://blogs.msdn.com/benjones/archive/2007/02/17/sql-server-2005-sp2-is-almost-here.aspx

http://download.microsoft.com/download/2/b/5/2b5e5d37-9b17-423d-bc8f-b11ecd4195b4/WhatsNewSQL2005SP2.htm

Tons of good fixes and perf improvements here - it's shaping up to be a great service pack!

A couple of these are particularly interesting in terms of what they could enable in TFS (mostly for future versions like Orcas).  The ones that stick out to me:

• You can integrate a report server instance with Windows SharePoint Services 3.0 or Microsoft Office 2007 SharePoint Server to store, secure, access, and manage report server items from a SharePoint site. Integration features are provided jointly through SP2 and a special Reporting Services Add-in that you download and install on an instance of the SharePoint technology you are using.
  The new Report Viewer Web Part is included in the Reporting Services Add-in that you install on a SharePoint technology instance. For more information about the Web Part and other integration features, see Reporting Services and SharePoint Technology Integration and Features Supported by Reporting Services in SharePoint Integration Mode.
• Custom Reports. Users can now integrate their own management reports into Management Studio. For more information, see Custom Reports in Management Studio. This feature is supported in SQL Server 2005 Express Edition SP2.

Others that also catch my eye:

• Multiple schedules. The Maintenance Plan Designer supports multiple subplans for a maintenance plan. Each of the subplans can have independent schedules for their maintenance tasks.
• Multiple server administration. Maintenance plans will work on multiple servers using master server (MSX), target server (TSX).
• The Database Backup maintenance plan task now includes the ability to specify the backup expiration option that was previously available in SQL Server 2000.
• The Disk Usage report for a database was divided into five separate reports to improve overall performance of the reports. The previous version of the report displayed all of the information in a single report which caused the report to take a long time to render against large databases. The new Disk Usage report shows only the top-level view for the data and log files used by the database. The other reports are: Disk Usage per Top Tables for the top 1000 tables, Disk Usage per Table, Disk Usage per Partition, and Index Physical Statistics.
• Graphical show plans. The spacing between nodes is reduced to display more plan information.
• The Restore Database dialog restores a database when multiple databases are backed up within a single BAK file.
• Fewer connection prompts when opening .Transact-SQL scripts. Management Studio determines the connection of the current context.

I'm really looking forward to this service pack!