Back in July of 2007, Microsoft released its first iteration of Windows Home Server. Over the three years that followed, Microsoft has updated the product with three Power Packs, each of which has provided significant functional improvements. Windows Home Server "Vail", the next major version of this product, will be based on the current generation Windows Server platform (Windows Server 2008 R2) and will share a number of features and capabilities with Small Business Server and Essential Business Server. Unfortunately, Microsoft has been tight-lipped about Vail and the quality of information we have today is lacking, to say the least. Fortunately, a recently leaked build of Vail – tagged build 7360 – has shed some light on what the WHS team has been working on. Vail exposes some interesting codenames, key among these is "Aurora," which appears to be a Small Business Server version that sits somewhere between WHS and the current SBS products (Paul’s SBS + cloud services dream solution?) and “Colorado,” which appears to be remote device related. (Windows Media Connect or DLNA-based devices, maybe?). This version of WHS Vail provides two major functional updates, Homegroup creation/integration and media streaming. Both appear to be based on the same functionality that appears in Windows 7, and the media streaming feature utilizes a sweet Silverlight-based player, through its revamped remote console, that transcodes content of virtually any kind from what I can tell, on-the-fly.
Full Article: A look at Windows Home Server "Vail" (Build 7360)