over at the channel8 downloads page you'll see what is available: visual studio professional, expression studio, windows server 2003 standard, and xna game studio. wow. for now this is available in United States, the United Kingdom, Canada, China, Germany, France, Finland, Spain, Sweden, Switzerland and Belgium. the program looks to bring more countries on in the future so check back.
there is a student verification process that you have to go through and some of the frequently asked questions are available on the DreamSpark FAQ.
what a great way to enable our future technologists to develop great software using great tools!