XNA 3.0 CTP released today! W00t! Make sure you have visual studio 2008 installed as it won’t run in 2005. Also included is Zune support, but the *BEST* part of it is you no longer have to use XACT!!! Woohooo! 3.0 includes a new soundeffect class.. Drag your sound to the content directory, load it, play it!!! Heres some links to the relevant info:

XNA 3.0 Readme

3.0 SoundEffect Implementation Info

Now I can finally stop using System.Media and SoundPlayer while testing!!!