Here it is! Visual Studio Team System and Team Foundation Server 2010 Beta 1 as well as .NET Framework 4.0 Beta 1 have been released to the public. Soma made the announcement of the release to MSDN on Monday, but now all the goods are available to everyone too.
We have been involved in the Technical Adoption Program since early 2008 and it has been a great ride. Lots of good information has been tried and shared and earlier this year the TAP partners presented on VSTS 2010 during the APO Conference.
The VSTS installation experience is pretty straightforward: When you start the setup, select to install VSTS 2010.
Click next.
Accept the license agreement.
Select the .NET Development Environment.
Optionally click the Customize button to select components to install.

Click Next to start the installation.
The setup prompts to restart your machine after the .NET Frameworks have been installed. And so it does again after the installation is complete.
And then your favorite development environment is ready to be used! Select your environment settings.

The new start page.

And the new layout for project and file types.
Oh, and I am sure you noticed the new user interface in Windows Presentation Foundation.
Except for the startup performance I love every bit of it.
Now we are looking forward to using VSTS and TFS in a managed production environment.