This is a bit earlier than I was expecting. I was expecting it to come later in the year so that it would come with WPF/E and .NETCF 3.5 built in. The fact it will be available so soon suggests to me that it won't come with this. This is likely to mean that there will be an update/ service pack later this year.
I'd love to correct my next statement at some point in the future, but from what I've read this new version will not have anything groundbreaking in it, but will feature lots of small changes that improve the overall feel and usefulness of the device. I just think the platform is so great that I'd love to see really big changes and new functionality.
Considering the launch of Office2007 was last month, I'm surprised to see that in the new versions of the office programs (Word, Excel & PowerPoint) there isn't support from the new XML formats, in that they are making a big deal of the desktop versions of files being fully supported on the devices.
All in all I suppose that this new version is to improve the user experience for 'typical users'. As a developer I want to see lots of innovative new things coming along. I totally expect to love the device when I get one, but just now I'm not going too wild.