The Developer Preview that was released in Sep 2011 has a set of new features for Lab Management. Brian Harry has recently blogged about those features. The new addition in the Developer Preview is that of "Standard Environments".  You can now quickly create an environment out of existing machines and use it for Build-Deploy-Test automation. You do not have to worry about manually installing agents as that is completely automated. There is one limitation with the use of Standard Environments in the Developer Preview version. The test machines that you use for creating the Standard environment must be domain-joined machines, and they must be trusted by the Test Controller machine.

Give the standard environments a try, and let us know how they work for you. Brian Harry's post on how to use standard environments for Build-Deploy-Test automation can be found here.