The new Dynamics CRM 4.0 demo virtual image has been released for download 17-Apr-2009.
https://mbs.microsoft.com/partnersource/deployment/methodology/vpc/MSD_CRM4VPCApril09 (Available to MS partners only)
Similar to previous versions, this in a CRM 4.0 image is on a Window Server 2003 with office, Sharepoint, OCS, Outlook, SQL Server, Reporting Services... Primarily, this is intended to demonstrate the power of CRM to prospective clients. Though many developers use this image as a basis for a development environment.
If you are in sales, then you will be happy to know that the new image is now pre-loaded with some additional accelerators and packed with many demo tools.
As a developer you should probably give a satisfied nod to the fact that there are SDKs and developer tools such as Visual Studio 2008 pre-installed.
My only issue is that due to the accelerators, this is no longer a clean install or a clean base image that I can use for customisaion of a new project. I guess its time to create my own Dev image and stop freeloading.