Monday morning, during his keynote at VSLive (September 13, 2004), I heard Microsoft Vice President S. Somasegar announce the latest version of Visual Studio: Visual Studio 2005 Standard Edition. The number of editions of VS is growing rapidly making it hard to remember which features are in each version.
The new MSDN Visual Studio 2005 site has a page that explains the differences between versions.
The Standard edition appears to be very similar to the Express Editions except that while each Express version works with only one language (e.g. VB, C#) the Standard version includes all languages.