Rick has just announced that Beta 3 is available - http://blogs.msdn.com/rickla/archive/2005/09/23/473423.aspx and I can confirm that it's now actually live for download on MSDN at the subscription download center.

Please read Rick's post - it contains some important points about go-live licenses and compatibility with the final VS 2005 bits.

This is a really major release for us, and it represents a phenomenal effort on the part of the Team Foundation dev team. We actually laid out our planned date for this release way back in January and, thanks to some really hard work and great collaboration, we hit it pretty much bang on.

I want to say a huge public thanks to the developers on the team for making this possible - it's been an incredible effort from everyone. You already know some of them from their blogs and contributions to the MSDN forums but we've had something like 55 developers working around the globe on it in North Carolina, Redmond, Fargo, Copenhagen and Hyderabad. What has made this release really special is the amount of team work I've seen. In our final push to get this Beta out of the door we had developers in North Carolina working on fixing bugs for folks in Redmond, developers in India fixing bugs for folks in North Carolina - this was a worldwide collaboration effort, with a level of agility that I don't think I've ever seen before.

The last couple of weeks have been slightly less frenetic, but no less stressful, as we locked down to ship - and the big push to zero bugs seems a long way in the past now. We've still got a long road ahead of us to move from Beta 3 to RTM for Team Foundation in Q1 06, but I'm absolutely certain we've got the right team of devs for the job. Thanks guys - you've been awesome.

(Now that it's out of the door, I'm hoping that I'll be able to resume a more frequent blogging schedule...)