In ScottGu's words:
"
Next year we will ship our next major Silverlight release -- Silverlight 3.
Silverlight 3 will include major media enhancements (including H.264 video support), major graphics improvements (including 3D support and GPU hardware acceleration), as well as major application development improvements (including richer data-binding support and additional controls). Note these are just a small sampling of the improvements - we have plenty of additional cool features we are going to keep up our sleeves a little longer. ;-)
"
Continue reading here:
Update on Silverlight 2 - and a glimpse of Silverlight 3 ...