Ok, I’ve just installed the VS11 Beta. I know this might sound ‘weird’ to some (like the new, leading and bleeding edge guys) but I’m glad the ‘old’ stuff are still in there – aka Windows and Console type of applications. There are the obviously new project types that allow you to create all the new Metro interface apps but also a few other changes. For one, the built in Visual Studio Installer seems to be no more – the only option is the ‘Enable Installshield Limited Edition’.
Interestingly under ‘Other languages’ (since I choose C# as primary language) JavaScript now has its whole own section. These are all Metro project types. There are of course also VB.Net, C++, SQL Server and F#. Then LightSwitch also has its own options.
But since I mostly (ok only these days) use C# lets look at that. If you look at the screenshot the first thing you notice is the lack of colours. Yes, everything is now ‘Metro’ (or Retro like I call it). 
For my purposes there are the Windows Forms, Windows Services, Console and Class library projects. Also the standard ASP.Net types are still there. Most of the new ones are Metro related. Then as far as .Net frameworks are concerned you can choose anything from 2.0 to 4.5 (like 3.0, 3.5, 4.0). Interestingly, 4.5 does not have a ‘Client Profile’ option like 4.0 and 3.5. I have to wonder if they somehow made the complete 4.5 smaller so it could be compared to 4.0 client profile again??
Looks like there are a whole lot more performance analysis features included but I’ll have to ‘play around’ with it to see how it works before I make any judgement (on whether I like it or not).
As a first test I created a plain old Windows Forms project:

As you can see other than the boring colour scheme nothing else changed much. At least that is a good thing. The toolbox seems to have all the old controls in it. I might be mistaken but it looks like the team explorer stuff might be built in (this is the Pro Beta).
Well, those are my initial impressions and I’m not disappointed (yet). Best is you can try it out yourself!