Silverlight 2.0 has been just been released. Here's a teleconference playback. Silverlight 2 delivers a wide range of new features and tools that enable designers and developers to better collaborate while creating more accessible, more discoverable and more secure user experiences.
Personally I have seen so much richness brought to my Web experience by Silverlight. For content deliveries, I have been using it to publish screencasts and the sound and video just have so much better performance and quality. If you have not already experienced Silverlight, you need to check out tafiti which uses both Microsoft Silverlight and Live Search to deliver richer experiences on the Web and explore the increasing specialization of search. It is a very interesting concept and experiment.