Today at the keynote they showed the new Workflow Foundation that will be delivered with Vista. It has great integration with Visual Studio and looks really simple to use. Microsoft has been doing different workflow parts before in different situations, but it looks like they are going to get it right this time.
They also showed some new great looking designer tools labeled "
Expressions". These tools works with the same project-files as VS.NET and are for designers to create the highly graphical UI in Vista, and for Web Pages.
During the second half they showed more from Office 12 and also more from Sharepoint v3. It looks like there a quite a bit of new good functionality. For example Sharepoint v3 will have a Recycle bin.
[UPDATE]: If you don't know anything about Windows Workflow Foundation, I really think that it is worthwhile to go and check it out
here.