I am seeing a flood of screen casts regarding Microsoft CRM 4.0. Take a peek. We still are under the NDA restrictions for doing demos of features. Microsoft is breaking that rule with many of the features so here are a few links to some cool new features:

• Mail Merge from the web client via a Wizard.
• Adding Users Via Web Client - New Wizard
• New Basic Workflow system
• Complex Workflow
• Improved CRM Outlook Interface
• Duplicate Detection
• Relationships on the Screen With N:N relationship
• Switch Languages for UI by the user on the fly.  I have never seen a program with this ability
• Updated Import Data capabilities, save mappings, and import into any object.  
• Advanced Find Showing Related Columns

So the skinny is that we do not have a release date specific yet.  They have already released a VPC to every partner, even non-ISV or CRM partners, and have publicly indicated that ISV's should be developing final code against the current CTP (Community Technology Preview) release. 

The guys writing the book on CRM 4.0 are hard at work getting that done. 

• http://blog.sonomapartners.com/2007/10/quick-book-upda.html