Highlights of the new version include the following :

• Modeling tools
• Improved efficiency throughout the test cycle
• Substantial improvements in collaboration capabilities

Another announcement was that the feature sets of the Team System Edition for Software Developers and the Team System Edition for Database Developers will be merged into one single product for the release of Visual Studio 2010. As from October 1, 2008, owners of a license of VSTS Team Dev 2005/2008 become now also the owners of a license of VSTS Team Database as a benefit to Software Assurance agreements.

More information on Visual Studio 2010 can be found here.

A bunch of videos on the next version of Visual Studio Team System have also been posted on Channel 9 due to the Week of Team System 2010. Good stuff! Can’t wait to see some live demos at PDC in Los Angeles. On November 27, 2008, I will try to redeliver some content on the new features of Visual Studio 2010 on the Visual Studio User Group event at Compuware.

A little bit of codename history :

• Whidbey became Visual Studio 2005
• Orcas became Visual Studio 2008
• Rosario became Visual Studio 2010

More on Microsoft codenames at Wikipedia.