See: http://blogs.msdn.com/somasegar/archive/2008/05/12/visual-studio-2008-and-net-fx-3-5-sp1-beta-available-now.aspx
Edit: ScottGu has also a post about the SP: http://weblogs.asp.net/scottgu/archive/2008/05/12/visual-studio-2008-and-net-framework-3-5-service-pack-1-beta.aspx
There are lots of stuff in that SP...
Summary
Web
-ASP.NET Data Scaffolding Support (ASP.NET Dynamic Data)
-ASP.NET Routing Engine (System.Web.Routing)
-ASP.NET AJAX Back/Forward Button History Support
-ASP.NET AJAX Script Combining Support
-Visual Studio 2008 Performance Improvements HTML Designer and HTML Source Editor
-Visual Studio 2008 JavaScript Script Formatting and Code Preferences
-Better Visual Studio Javascript Intellisense for Multiple Javascript/AJAX Frameworks
-Visual Studio Refactoring Support for WCF Services in ASP.NET Projects
-Visual Studio Support for Classic ASP Intellisense and Debugging
-Visual Web Developer Express Edition support for Class Library and Web Application Projects
Client
-Application Startup and Working Set Performance Improvements
-New .NET Framework Client Profile Setup Package
-New .NET Framework Setup Bootstrapper for Client Applications
-ClickOnce Client Application Deployment Improvements
-Windows Forms Controls (Printing, DataRepeater...)
-WPF Performance Improvements
-WPF Data Improvements
-WPF Extensible Shader Effects
-WPF Interoperability with Direct3D
-VS 2008 for WPF Improvements
Data
-SQL 2008 Support
-ADO.NET Entity Framework and LINQ to Entities
-ADO.NET Data Services (formerly code-named "Astoria")
General
-WCF Development Improvements
-VB and C# Improvements
-TFS Improvements
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