On June 7th Microsoft launched Expression Studio 4. A great set of tools for designing rich media applications and websites.

TOP NEW FEATURES
SketchFlow – a rapid prototype tool
SketchFlow, a feature of Expression Studio Ultimate, enables you to rapidly present ideas, user interface flows, screen layouts and application functionality to your clients through effective prototyping. The lo-fidelity, or ‘sketchy’ look to the prototype helps clients focus on the functionality, rather than the detail of the experience, while the SketchFlow Player gives the client an easy way to test and provide feedback. This new release of SketchFlow features a more robust client feedback solution which integrates with both local and online versions of SharePoint, allowing clients to more effectively share and review feedback.
Behaviors – accelerate your UI designs
Expression Blend 4 includes new Behaviors designed to enhance your application design process; multi-touch, the ability to preserve screen state from screen to screen, easily drag-able items between listboxes plus many more designed to keep you focused on the art of creating compelling UI designs.
Visual State Manager – bring you application to life one transition at a time
Bring your application to life with effective transitions. Add subtlety and texture to your UIs by taking advantage of the new pixel shader effects. Whether you want to manipulate color, add a drop shadow or animate a ripple transition or swirls, the extensible range of pixel effects gives you total control so you can create the transition you want through the Visual State Manager.
Team Foundation Server Integration Share your Expression Studio project files with those of your colleagues by using check in and check out functionality with Microsoft Team Foundation Server integration. The feedback you receive via SketchFlow can now be converted into Team Foundation Server work items.
SEO Diagnostics
Expression Web uses the IIS Search Engine Optimization (SEO) Toolkit to improve your Web site’s relevance in search results by recommending how to make the site content more search engine-friendly.
Create Expression Web add-ins
Now you can extend Expression Web’s functionality with HTML and JavaScript. Add panels, menu commands, and tools to the toolbox. Share your add-ins with the Expression Community.

We have streamlined to three main SKUs, including Expression Studio 4 Ultimate, Expression Studio 4 Premium and Expression Studio 4 Web Professional—all featuring Expression Encoder and Expression Design. This diagram helps explain what is in each of the three SKUs.

More information and trial downloads available here: http://www.microsoft.com/expression/