The announcement went out earlier today: the Windows Phone Developer Tools have moved from the CTP ("Community Technical Preview”) phase to Beta (“Almost There!”). As Brandon Watson wrote in the Windows Phone Developer Blog, “This Beta release represents the near final version of the tools for building applications and games for Windows Phone 7.”
Go ahead, go and download it! Click the big graphic link below. You know you want to.
Make sure you uninstall previous versions of Windows Phone Developer Tools before you install the beta.