The beta release status is "day to day" according to Stan Sorenson, director of product management for SQL Server. (Courtesy of InternetWeek)
Stan's a great guy, but he's the one who claimed that the beta would be released in time for TechEd. And at TechEd, although the beta wasn't ready he thought it would be ready in June. This is a challenging release for Microsoft, I know I am rooting for them to have it ready soon.