Microsoft have adjusted their goals and dates for Windows Longhorn. Primarily by relegating WinFS to an add-on that will be shipped later; but also committing to ship Indigo and Avalon on XP and Windows 2003 systems. There is no mention of the user experience (Aero) though. More details can be found here:
[Edit: Jim Allchin, the Group Vice President for Platforms at Microsoft, is on video at Channel 9 explaining the details.]
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