The version that you download from Microsoft is just the new version of Windows CE. I was playing with it earlier this month. Those pretty pictures you see in the Engadget report, that OS doesn't come with the download and you must develop that yourself.

Nevertheless, it's quite a sophisticated piece of software development kit. You are able to choose what type of media device your targeting, the screen size, what type of network ports is going to be on, the processor type (supports all things from ARM to Texas Instrument) and a heap of other cool stuff.