http://www.microsoft.com/windows/ie/ie7/default.mspx
Well it seems they took all the good parts of Firefox (Tabs and RSS) and added their "unique" M$ spin on it.
I'm downloading it right now to check it out, though Lifehacker had some problems with it.
Here's to reverse engineers?
Edit: well after restarting it loaded pretty quick (faster than Firefox but thats a whole different story.) One thing that stood out is the total not-IE but kinda Opera/K-Meleon feel to it. Everything is a symbol now...pretty cool.
Another thing, it's fast. Weirdly faster than a fixed up Firefox.