SQL Server Management Studio Express
This isn't really new news (it is 2 months old) but I wanted to make sure people are aware of it.
One of the issues addressed by SQL Server 2005 Express, which was missing in MSDE is the availability of a free tool for managing the database. I usually ended up telling my clients using MSDE to use Access (since they usually had that installed) to develop and manage their MSDE database.
During the SQL Server 2005 beta cycle, MS released a beta/CTP version of the SQL Server Express Management to fill this role. Let's just say that it was missing a "few" features and was not terribly useful. Moreover, it did not progress at all during the beta cycle. MS switched course in the middle (a good decision in my opinion) and decided that instead of developing a new management tool for SQL Express, they would offer a free scaled-down version of SQL Server Management Studio.
A CTP version of SQL Server Management Studio Express is now available for download here.
Since this is based on the same code base as the full SQL Servre Management Studio tool, it is already very functional and stable. A good deal - check it out !