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Good news in the FAQ, you can read this:

Q: When can people get Visual Studio 2005 Team System?

A: Iterations of Visual Studio Team System will be available to customers as follows:

• At Tech Ed 2004 in San Diego, customers will receive portions of Visual Studio Team System.
  • This is an early access build of the product and is not as stable as future Beta releases.
    
    
  • Removing it may require reformatting your drive.
    
    
  • Should only be installed on a non-production machine.
• This summer, customers will receive an official Beta release of Visual Studio 2005. This beta will include only the Team Architect Edition portion of the Team System.
  
  
• Beginning this fall, customers will receive additional Community Technology Preview builds of Visual Studio 2005 that will include Visual Studio Team System.
  
  
• Visual Studio 2005, including Visual Studio Team System, will ship in the first half of calendar year 2005.
  
  
• MSDN Universal and MSDN Enterprise subscribers will be shipped copies of all pre-release versions of Visual Studio 2005 and Visual Studio Team System.