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With the upcoming release of SQL Server 2008, a refresh of BizTalk 2006 will be released to support SQL Server 2008, Windows Server 2008, and the .NET Framework 3.5. This is not a new release of BizTalk Server per se ... it will be built on the existing released bits. This is to ensure compatibility to existing BizTalk applications.
There are some planned enhancements based on customer requests. These include:
A CTP is expected later this calendar year with an RTM planned in H1 calendar 2009. There is a TAP program planned for R3. Sign up instructions can be found here.