I just read a couple of announcements that I missed.
A customer technical preview release (CTP1 – a pre-beta build) of SQL 2008 Service Pack 1 was released.
Smooth Streaming for IIS7 is available as a beta release for x86 and x64 and as a Web Platform Installer. There’s more information here and here. The idea is simple enough: provide a “media experience that starts up instantly, seeks instantly, and delivers the best quality that network and CPU conditions allow for”. It sounds like some of the functions that Silverlight can do with media that local developer evangelist, Martha Rotter, has been talking about.