Since you're all going to go and check out the VMware spiel anyways, I won't bother repeating it here.
What I will say though is that I'm not sure how wise it is for VMware to simultaneously spread themselves even thinner by releasing more products, and eat into the opportunities for ISV's. 2009 is going to be a tough year for everyone, and a healthy ISV market is good for a software company. The last thing VMware should be doing is try and offer everything themselves, thus driving ISV's like Veeam, Quest and the many others into Microsoft's camp where they will no doubt be welcomed with open arms!