A while back I posted the diagram below to try to explain how Vista activation worked. Click it for a larger version.
There are two entries which are marked “due out in 2007”, both of which show up on the Vista Downloads page. For KMS keys we now have Key Management server for Windows Server 2003, and an associated MOM pack, for MAK keys we now have the Proxy or Volume Activation Management Tool (VAMT) .
This post originally appeared on my technet blog.