The release provides:
Windows Presentation Foundation interoperability CAB extensions and View with presenter recipe Offline application blocks and recipes; the application blocks support asynchronous calls to WCF web services. Richer ClickOnce Deployment capabilities Enhanced guidance packages which includes code generation Visual Basic .NET 2005 Improved installation with a new dependency checker
Source: Blaine Wastell - patterns & practices client architecture guidance : Smart Client Software Factory - May 2007 Release is Live