From what I've seen, Silverlight 2 beta 2 and Blend 2.5 june preview are amazing.

I've watched some of the new tutorials on silverlight.net, and I especially like the video titled ADD STATES TO A USERCONTROL FOR SILVERLIGHT 2. This demonstrates the fantastic way to add animations, flyout menus etc while having to write very little code or XAML yourself.

I'll definitely be spending some time with these new toys!