The IIS Media team is moving fast. Last week the team announced the beta availability of the IIS Media Services 4.0. Media Services are an out-of-band release for IIS meaning you can install this as extensions to IIS without having to wait for a full OS upgrade.
I recommend you check out the blog post covering all the new stuff in this release: IIS Media Services 4.0 Beta is now available on Chris Knowlton's blog.
As a summary, here are main new features:
You can download the beta for x64 or x86.
Give it a try!