Whoa, weird, the first real content entry is not about Office "12" WCM but about CMS 2002: We've released CMS2002 SP2 today!
I thought that was worth a quick note.
So: We've added support for SQL2005 and ASP.Net 2.0 (Master Pages as well as the authentication and navigation provider models, the rest is coming in the Office "12" timeframe).
The VS2005 IDE works as well (please follow the instructions in the readme file).
Full regarding the list of QFEs rolled up details will be in the official communciations.

This release has been eagerly awaited all around, let the downloads begin:

English: http://www.microsoft.com/downloads/details.aspx?FamilyId=3DE1E8F0-D660-4A2B-8B14-0FCE961E56FB&displaylang=en
Japanese: http://www.microsoft.com/downloads/details.aspx?FamilyId=3DE1E8F0-D660-4A2B-8B14-0FCE961E56FB&displaylang=ja
French: http://www.microsoft.com/downloads/details.aspx?FamilyId=3DE1E8F0-D660-4A2B-8B14-0FCE961E56FB&displaylang=fr
German:  http://www.microsoft.com/downloads/details.aspx?FamilyId=3DE1E8F0-D660-4A2B-8B14-0FCE961E56FB&displaylang=de