Microsoft have released English, German, Japanese and Simplified Chinese beta 2 versions of Internet Explorer 8. The installer weighs in at 23.1 MB and users will be required to remove beta 1 before it can be installed.
As per the previous releases of Internet Explorer 8, there is compatability mode which allows the sites to render as if they would if you were viewing them in Internet Explorer 7.
One of the things I noticed during the install, is you can import settings from other installed browsers, which was neat.
View: Internet Explorer 8 Screenshots
Download: Internet Explorer 8 Beta 2
Remember, it still is a beta, so there will be bugs. If you happen to find any bugs, please comment and let me know what you find.