There were rumours that it would be announced at MMS, but I didn't want to comment on them until the announcement was made. System Center Virtual Machine Manager has gone beta.

On the (recently revamped) home page of http://connect.microsoft.com, if you click Connection Directory or See all Connections you'll find

System Center Virtual Machine Manager

Virtual Machine Manager 2008 (VMM) is a comprehensive virtual management solution optimized for Windows Server® 2008, Microsoft Virtual Server, and VMware infrastructures.

That's exciting news. If you're working on Virtualization and would like some assistance drop me a mail - ideally with the word "Airframe" in the title and I'll give you some information about a support programme which we're running.