Just to add more licensing questions to this (yes, a partial thread-hijacking but it seems to fit here)...
Is TeamPulse going to be licensed on a per user basis, per TFS Project basis, per TFS Collection basis, per team basis, per TFS Server basis, or exactly how will the licenses be distributed? I'm guessing most people have the assumption that it will be per-user but since this is a team tool rather than a developer tool, there is some reason to suspect this could be a little bit different. I'd be happy to hear some about this. :-)