Windows Vista SP2 beta, WS2K8 SP2 beta released
The first public tests of Microsoft Windows Vista Service Pack 2 and Windows Server Service Pack 2 (both have the same kernel) were released this morning, and you can download them for yourself now.
For simple functionality tests, you'll probably want to test both beta editions inside safe, virtual environments. For the Vista SP2 beta, you should use Virtual PC 2007 SP1 to first create a fully working virtual machine around Vista SP1, then use the SP2 download to upgrade that VM. For the WS2K8 SP2 beta, try VMRCplus, a freebie utility from Microsoft that manages virtual server machines created with Virtual Server 2005 R2.
However, with Hyper-V integration now a key feature of WS2K8 SP2, you won't be able to test that feature in a virtual environment because the hardware-based hypervisor cannot be virtualized. For that, you'll want a typical hardware-based pilot system; and while you may be tempted to use an old PC lying around, if it's too old, you won't be able to test Hyper-V.
What you will need to test the Hyper-V role is a 64-bit CPU that uses hardware-based Data Execution Prevention (DEP). Although that's supposed to be a common feature in CPUs since about 2005, you'd be surprised how few actually have it. Your best shot is to use a late-model 64-bit Intel Xeon or AMD Opteron processor (or processor cluster) than a Core 2 or an Athlon.