It's update time again!
Soma and Scott have many more details on their blogs.
Soma and Scott have also recorded a Channel 9 video that will be published later today, which overviews these releases.
One thing that Soma mentioned in his post is that Silverlight RC is coming in the next couple of days. I have been using the RC of Silverlight over the last week and there are a few breaking changes that we all will need to address if we want existing Silverlight applications running on the web to continue to work after the RC!
The Silverlight 1.0 RC is "feature complete" and shortly we will also release an updated (CTP) Silverlight Add-in for VS 2008 so that developers can continue to collaborate with designers using the upcoming Expression Blend 2 August Preview to build Silverlight experiences.