We are now running full-speed with SQL Server 2005 at work.  I have my team testing the new features and spending part of each week learning the technology.  I've been telling everyone how much there is to learn.  If you are a database manager with SQL Server and do not have your people ramping up, you should be shot (2 cents thrown in there).  They are currently focusing on reporting services, SSIS, and analysis services, as those represent the major push my department will be making over the next 15 months.  It'll be interesting to see how we can effectively leverage the new technology to replace our current reporting systems.  I'm also looking forward to the operational and maintenance improvements that will make it easier to identify performance needs, track deprecated stored procedures, etc.