Good news: Today Microsoft announced the next version of Visual Studio Team System, previously known as "Rosario", will be called VSTS 2010. Some good information can be found on in Somasegar's post and in the official press release. In short the message is that Application Lifecycle Management will be taken to the next level to better facilitate architects, testers and project managers, but also new audiences such as application maintenance people. I am sure you know that Microsoft are very open in developing new products and receiving feedback, so you can already enjoy an early "Rosario" build, which is downloadable as a VPC. A new version is expected shortly, which would make sense since the most interesting conferences of all is about to kick-off in 4 weeks...
The Professional Developer Conference was last held in Los Angeles three years ago. Then Microsoft announced The LINQ Project, WinFX including workflow foundation and presentation foundation and the designer toolset we all know now as the Expression suite. This PDC is all about the cloud and Live, which sounds very promising.
Disclaimer The opinions expressed herein are my own personal opinions and do not represent my employer's view in any way.