Which Team System components?

The new version control functionality, which is HTTP accessible, is found in Team Foundation Server. To access the server, you need a CAL (client access license) to install Team Explorer. Team Foundation Server comes with 2 CALs, which are generally used for administration. Each of the role-based products (e.g., Team Edition for Software Developers) comes with a CAL. Otherwise, you can purchase a CAL separately and install Team Explorer (integrated with Visual Studio 2005, otherwise standalone) to access the server.

Based on customer feedback (and a lot of discontent in the community), Microsoft has said that they will include Team Foundation (with a 5 user limit) in the MSDN Premium Subscription. This gives the ability to "test out" Team Foundation and see how it will enchance your development practices. Beyond the 5-user limit, an additional server license would be required. I'm not sure if final pricing details have been finalized but from what I've heard it's very reasonable (<$2500?).

I'm not a Microsoft employee so take that for what it's worth. These are just things have heard through the blogosphere and communicating with some of the Microsoft folk.

For more info., check out http://blogs.msdn.com/robcaron/archive/2005/05/12/416915.aspx and http://blogs.msdn.com/rickla/archive/2005/05/12/416994.aspx.