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Today during his keynote address at the Microsoft TechEd Developers 2007 in Barcelona, S. Soma Somasegar, Corporate VP of Developer Division announced that the .NET Framework 3.5 and Visual Studio 2008 will release by the end of November.
Read more in this blog post
So, get ready to start building those production apps in Visual Studio 2008 and taking advantage of LINQ, or the new WPF designer, or any of the other great new features!