At the BUILD keynote this morning, Jason Zander showed some of the functionality in the Visual Studio 11 Developer Preview and Team Foundation Server 11. As announced on his blog:

MSDN subscribers can download the previews today as well as the new release of .NET Framework 4.5 Developer Preview; general availability is on Friday, September 16.

Some exciting announcements are being made here at BUILD.  Visual Studio 11 provides an integrated development experience that spans the entire life cycle of software creation from architecture to code creation, testing and beyond. This release adds support for Windows 8 and HTML 5, enabling you to target platforms across devices, services and the cloud.  Integration with Team Foundation Server enables the entire team to collaborate throughout the development cycle to create quality applications.

.NET 4.5 has focused on top developer requests across all our key technologies, and includes new features for Asynchronous programming in C# and Visual Basic, support for state machines in Windows Workflow, and increased investments in HTML5 and CSS3 in ASP.NET.

We’ve shared a lot at BUILD already, for more on the future of Windows development I suggest you take a look at Steven Sinofsky and S. Somasegar’s blogs. More details on Team Foundation Server including the new service announced at BUILD and how we’re helping teams be more productive can be found on Brian Harry’s blog.