My university is part of MSDNAA, so I downloaded it a while back, but I just got around to installing it. I guess part of it replaces FrontPage for web editing, and there appears to be a video editor and a vector graphics editor, but I don't think I've even scratched the surface of what it is and what it can do. Could someone enlighten me, especially since I haven't found an "Expression Studio for Dummies" type website.
EDIT: Okay, I type too slow so most of what I had to say was already mentioned, so I'll strip it out except for...
The BIG thing to take note of is that the WSYWIG designer they used in Expression Web made it's way into Visual Studio 2008, which is a VERY GOOD thing. There is now EXCELLENT support for CSS, a better editing interface, and you can even go into a split edit mode to see the code and the content while editing.
For the longest time I was using Expression Web to do all my initial layout and then loading that into Visual Studio 2005. With Visual Studio 2008, there is no need to do it.