Whoah, what a way to start the morning! No, I don't mean that it's Windows 7 release day, I mean I was perusing my RSS and saw: Adobe ships Lightroom 3 free public beta over on 9 to 5 Mac. I'll have more links soon as the coffee kicks in. Here is the release notes (PDF). Main changes are "architecture for the growing size of image libraries" (cool, though catalogs and smart folders work well for this) and better noise reduction (sweet), posting to internet sharing sites directly, better watermarking, and a bunch more stuff.
More info on the Adobe Labs page.
Some demo Videos found as well.