Microsoft published this week the roadmap for the next major releases of VSTS.  The next release of Visual Studio (e.g. a minor release of Team System), code named "Orcas" will include some incremental updates to Team Foundation Server. Beyond Orcas, the next release of VSTS, code named "Rosario",  will enable exciting new scenarios to help software and business teams collaborate more effectively, ensure applications meet the quality bar for delivery, and improve team productivity during application development.  Some of the major scenarios and features in “Rosario” will include:

• PMO integration and workflow (Project Server integration)
• Full traceability to business requirements
• Comprehensive reporting and dashboards
• Project management across multiple projects
• Impact analysis
• Streamlined developer and tester workflow to quickly identify, prioritize, diagnose and resolve bugs
• Integrated test case management across both the development and test teams
• Testing automation and guidance
• Quality metrics
• Quickly integrate distributed and disconnected teams
• New customizable process content from MS and partners

Visit the VSTS Future Releases Site for additional information.