Having remained with the old "Flair" design since May 2007, Windows Live Dev finally gets a new look (http://dev.live.com). But don't be surprised to not find the Wave 2.0 look when you enter, because the designers at Microsoft preferred to make it look more like this. On the positive side, the new website allows developers to find what they need much more easier than before. I still wonder why they didn't use Silverlight though...
Here's a screenshot of the new website:
