Bill Gates annouced IE 7 today at the RSA Conference:

Building on those advancements, Gates announced Internet Explorer 7.0, designed to add new levels of security to Windows XP SP2 while maintaining the level of extensibility and compatibility that customers have come to expect. Internet Explorer 7.0 will also provide even stronger defenses against phishing, malicious software and spyware. The beta release is scheduled to be available this summer.

It'll be great to get much of the realiability work we've done in WinInet out to the public.