Just read .NET Framework 3.0 at Somasegar's blog.
It's just rebranding of the name Microsoft pushed as WinFX, because behind the scenes it seems to be the same .NET 2.0 framework as we're having now, but with added value: Windows Presentation Foundation (WPF), Windows Communication Foundation (WCF), Windows Workflow Foundation (WF) and Windows CardSpace (WCS).
I'm already looking forward to .NET 4.0. Are you?
Update: another article by Brad Abrams is online too: Toward .NET Framework 3.0....