Today Microsoft shipped Visual Studio 2008 and the .NET Framework 3.5. The IDE can be downloaded from Microsoft's MSDN site (only for MSDN subscribers). The redistributable runtime is available here.
I was looking for the Team Explorer 2008 client and after a long search, I finally found it.
Please read the blog post of Scott Guthrie about this subject for more information.
Have fun with all the new exciting technologies!