I have installed the Novemeber CTP on a virtual machine which already has some of the changes included in Beta 2.  The entire software installs like it is Beta 2 (i.e.: the text everywhere in the product says Beta 2).  The framework version is 2.0.41202.
Aside from the compiler directives and directory changes that Microsoft has notified us of (also discussed in the announcements), there are numerous other changes.  The first thing I noticed is that there is actually a start page now.  It automatically pulls a list of recent projects and displays headlines from MSDN.  I am not sure if any of this is configurable yet.
I am attempting to migrate an existing application from Beta 1 and here is what I have noticed so far.  The names of all of the providers have changed (i.e.: WindowsTokenRoleProvider is now AspNetWindowsTokenRoleProvider).  The other thing that appears to have happened is that all the attributes used to define a custom profile provider have changed. 
Unfortuanately, there is no MSDN help in this build.  An installer happens to be sitting on the disc image but when you try to install it, it tells you that .NET Framework Beta 2 is required.  My guess is that it was built with a different build of the framework.  An update to Visual SourceSafe is also included but I could not get its installer to run either.
Any how, I am currently unable to get my application working because there is no help available for setting up the parameters in the web.config and intellisense doesn't really give me enough information to help either.  This is normally something that you could simply use the ASP.NET Configuration pages (WebAdmin.axd) to set up, but unfortunately I couldn't get those pages to run either.  I eventually did get this to run on a simple new application, but for some reason there was no profile provider listed.
In summary, this build seems very preliminary, but it is good to see that they are making progress.

Read the complete post at http://www.dotnettipoftheday.com/blog.aspx?id=212