SP3 for SQL Server 2005 has been in CTP for a while now (10/27/08) and all is appearing to be really good. I finally got around to installing the beta patch the other night on my home servers and experienced no issues at all.
So... what is this going to give us? Lets crack open the What's New section and dissect.
The article continues at http://blogs.msdn.com/stevecarroll/archive/2008/11/13/sql-server-2005-sp3.aspx