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Today at Supercomputing 2007 (SC07), Microsoft announced the successor to Windows Compute Cluster Server 2003, dubbed Windows HPC Server 2008 and also announced the availability of the Beta 1 release of the product.
This major release will provide dramatic improvements in performance (both at runtime as well as during deployments), and adds innovative new job scheduler capabilities to support high-throughput SOA applications.
Check out the HPC server website for more information including a technical overview whitepaper describing all the innovations coming with this release.