It's settled! The Entity Framework (and the Entity Designer) along with ADO.NET Data Services will RTM as part of the Visual Studio 2008 and .NET 3.5 SP1 releases!
Unfortunately, we don't have official release dates at this point, but stay tuned. You'll also want to keep an eye out for the upcoming SP1 Beta 1, which will be your next chance to check out updated bits for both of these products.
Program Manager, Data Programmability
(via this ADO.NET team blog post)