Currently the .NET 3.0 Framework is in Visual Studio 2008 (Codename: Orcas) and also supports the .NET 3.5 framework which is in Beta 2. (VS2K8 is also still in Beta)
MS has released a few plugins for VS2K5 that will allow you to work with the .NET 3.x framework (for example, a plugin to create WPF applications) so you do have that option.
The new release of the framework has lots of "cool" new features, for example:
Windows Presentation Foundation (WPF)
Language Integrated Query (LINQ)
Windows Communcation Foundation (WCF)
Google searches will net you vast amounts of information on any one of those items above.
hth.
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Read this if you want to know how to get a correct reply for your question:
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Technical Editor for:
Beginning Visual C# 2008
Professional Search Engine Optimization with ASP.NET
Professional IIS 7 and ASP.NET Integrated Programming
Wrox Blox: Introduction to Google Gears
Wrox Blox: Create Amazing Custom User Interfaces with WPF and .NET 3.0
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