It looks like some of the details for Windows Mobile 7 have leaked out ahead of time. PPCGeeks (via BGR claims to have received insider information about what Windows Mobile 7 will pack. They further claim that WinMo 7 will launch at the Mobile World Conference on February 15th, which we've heard several times before.
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WM7's UI will be very similar to the Zune HD. The home screen will have a new look and will not support any custom manufacturer UIs. There will be no Flash support at launch due to time constraints. Silverlight 3.0 and some aspects of 4.0 will be included. Users will only be able to install apps through the WinMo7 market place, not through a storage card.
Sadly, multitasking will NOT be supported in 7, although there will be push notifications. The Mobile Marketplace will feature a "try before you buy" feature as well as API support. There will be no .NET compact framework backwards combatibility. The browser will be based off of the IE7 codebase but will include some IE8 functionality.
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WinMo 7 will come with full Zune and Xbox 360 integration, and the Zune software will handle all syncing. There will be "full" social networking support, and the first WinMo7 devices are expected to ship in September of 2010.