With recent (or near future) releases of Windows 7, Windows 2008 R2, SharePoint 2010, and Silverlight, it is no surprise that a new release of Visual Studio is coming soon. According to The Register, Visual Studio 2010 will release on March 22, 2010. They reported that Beta 2 will be available to MSDN subscribers today (it was not there at the time I wrote this), and that it would be publicly available on October 21st to everyone else.
Also reported was the reduction in the number of different editions of Visual Studio 2010. The plan is to reduce the number to four: Visual Studio 2010 Professional Edition without MSDN, Visual Studio 2010 Professional with MSDN, Visual Studio 2010 Premium with MSDN, and Visual Studio 2010 Ultimate.