Yes, finally Microsoft is releasing Service Pack 1 for SharePoint 2010. It is expected to get release by June end 2011, when it will be available for download.
People working on SharePoint 2010 are eagerly waiting for this with a hope that it will fix the bugs that they all encountered while working on SharePoint 2010. Though not all the lists of fixes are yet declared, but few additional functionality are already out of which the most interesting one will be Recycle Bin for Sites/Site Collections deletions. So keeping our finger crossed for this release.
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