After been awaited for some time, it is there now, TFS Beta 3. We will be using this internally from now on for our .NET 2.0 Development. The nice thing about Beta 3 is that it will work together with the VSTS RC1 (which was given out at the PDC) and that (automated) upgrade scenario's will exist to TFS RTM.
A single server installation is also supported again, making this build useful for Demo and Evaluation purposes...
Futhermore, it is now also possible to use a Workgroup installation, instead of AD.