S. Somasegar, Microsoft Corporate VP in the Developer Division, just announced that Visual Studio "Orcas" and .NET FX 3.5 Beta 1 has shipped.  MSDN subscribers can download the .iso or the VPC image immediately.  If you are not a current MSDN subscriber, you can still download the bits from here.  Note that it may take a little while for the .iso images to make it to the Microsoft Download Center although the VPC image is already available as a set of WinRAR files.  Enjoy!