We will release WSUS  3.0 via WU/MU  (as an update to WSUS 2.0) on May 23rd.
As the next generation,  WSUS 3.0 brings new features and capabilites
dedicated to making deployment and update management simple yet powerful.
Just a few things new for WSUS 3.0 are:

Straightforward Installment
· In place upgrade over 2.0
· New configuration wizard to guide setup and configuration

Improved Administrative Experience
· New MMC based powerful UI (can also be installed as a remote console on
clients (e.g. XP) & host multiple WSUS servers in one console
· Custom views and results filtering
· Report Viewer only admin group
· Integrated "in-context" reporting
· Clean up wizard for management of stale clients/content & built in email
notifications
· Reporting rollup support
· Multiple, granular auto-approval rule options
· Enhanced Target group concepts including hierarchies for approval
inheritance or block, and overlapping target group membership support

Flexible Deployment Options to improve Branch Office support
· Support for language sub-setting on downstream replica servers
· Independent replica content source options (MU or Upstream Server)
· Optional Peer-cashing capability
· Synchronization up to every hour (vs. 1xday)

Performance Enhancements and Operational Reliability
· 50% improvement in reporting performance - report viewers only admin group
· Native support for x64 platform
· Network Load Balancing & SQL cluster support
· MOM management Pack for proactive alerts on server health

More Content Access and On-demand client synch:
· Easy access to drivers and hot fixes
· Personalization to make the MU Catalog customized to your downloading
needs
· Client 'synch me now' quick check-in/download support of pending approved
updates from WSUS or needed updates from Microsoft Update


WSUS 3.0 RC will be supported until May 31st 2007 - WSUS 3.0 supports
direct upgrade of WSUS 2.0 SP1 and WSUS 3.0 RC.

The WSUS 3.0 MOM pack should be available to the MOM catalog next week