There are some many things to write about that I can hardly catch up. Don’t the guys at Microsoft take a vacation so we can rest also?
Microsoft released Visual Studio Team System Web Access. This long name is self explanatory. With this long awaited web access to VSTS, you can enjoy working with work items using the web. The product now is fully CSS (Customer Support Services) supported. If you remember Microsoft acquired DevBiz and they immediately provided v1.0 for free to all TFS licensed users. The release that MS is providing now is tested for security and performance and has been dogfooded for couple of months in MS. Here is the list of fixes and new features that has been implemented.
Brian Harry also provided nice screenshots if you want to first check how the product looks like.