You cannot call yourself a CCF developer until you have fired up Reflector a few times to understand the internal workings of the system.
So it is with great joy I can say that version 5.0 is out for reflector. All the details available on the new version are available on Scott Hanselmans blog
Virtual PC is 2007 out, according to Memnotk (download link is there too).
The beta for this was the most bug free beta I've ever seen and definately will be getting the RTM today (especially since I am upgrading)