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Silverlight 5 has been released.
Silverlight 5 adds a ton of new features over what we had with Silverlight 4. These are non-trivial features like a full 3d stack, parsing performance improvements, tons of enhancements to binding and much more. My favorite features have to be Implicit Templates and the XNA-Compatible 3d Stack. The official list of features is here, but I've also detailed some below with direct links to learning content (this is adapted from my RC post).
The best place to go to get the bits is http://silverlight.net/downloads . Make sure you have Visual Studio 2010 SP1 (or Visual Web Developer) and then install the Silverlight 5 Tools. While there, be sure to install the latest version of the Silverlight 5 Toolkit - most of the XNA goodness is in the toolkit and SDK.
Some new core Silverlight features
Of special interest to ISVs:
Silverlight 5 extends features of the "Trusted Application" model
Silverlight 5 extends features of the ‘Trusted Application’ model to the browser for the first time. These features, when enabled via a group policy registry key and an application certificate, mean users won’t need to leave the browser to perform complex tasks:
Silverlight is a powerful development tool for creating engaging, interactive user experiences for Web and mobile applications. Silverlight is a free plug-in, powered by the .NET framework and compatible with multiple browsers, devices and operating systems, bringing a new level of interactivity wherever the Web works.