Link: What's New in Silverlight 5 Beta

The big one for many people is the ability to be able to create a 3D drawing surface using the DrawingSurface Class.  This is a big deal for the game design folks!

Here is a link (as of June 8, 2011) that walks you through how to create a 3D Silverlight app:

Walkthrough: Creating and Animating a 3D Textured Cube in Silverlight

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<StackPanel Margin="35" Background="Gray">
    <StackPanel.Projection>
        <PlaneProjection RotationX="-35" RotationY="-35" RotationZ="15"  />
    </StackPanel.Projection>
    <TextBlock Margin="10">Type Something Below</TextBlock>
    <TextBox Margin="10"></TextBox>
    <Button Margin="10" Content="Click" Width="100" />
</StackPanel>

 

image

Source Code (for the cube below

image

Pretty cool.