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I thought a product with similar specs was going to ship with vs 2010, but now the tfs team saw the light. I think this is a really good product for small teams.
Version contro, easy install, no need for sql server (it uses express)
Read the original blogpost by bharry
http://blogs.msdn.com/b/bharry/archive/2012/02/23/coming-soon-tfs-express.aspx
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Its good to know that once a logo is adopted, then its really time to get going and have your apps ready.
I am looking forward to really get the hang of the Metro Style. My feeble attempts at the new ui design look a little "boxy"