Brian Randell has just given the official word that there is a new VSTS/TFS 2008 VPC available:

It's no April's Fool day joke.

A new all-up image has been posted. It's been updated with Office SP1, the December 2007 TFS Power Tools, and all Windows Updates.

Also available with it are some labs to help you look at the various aspects of Team System.  And, for that final bit of good news, it won't expire until December 31st, 2008.

Don't forget, you can use Free Download Manager to help you queue up and download all the different ZIP files.