Just read this in infoworld: http://www.infoworld.com/article/05/03/10/HNvisualstudiodelayed_1.html
"Microsoft had said it would deliver Visual Studio 2005 Beta 2 by the end of March. The company won't make that deadline because it is still working on the product, said Said Zahedani, director of the developer platform and strategy group at Microsoft's German subsidiary during a news conference at the Cebit tradeshow in Hanover, Germany.
Microsoft plans to deliver the final version of Visual Studio 2005 at its Professional Developers Conference (PDC) in September in Los Angeles, Zahedani said. However, feedback from the second beta could change those plans and push final release into the fourth quarter, he said. "