AFAIK, the studio will be released near the end of august
I'm using a nightly build of it from 24th June. Not really much useful in this one. There is a Seam-Gen menu, a bunch of wizards (eg. PageFlow), editors and a new perspective (new Eclipse RHDS perspective, not a new perspective on life ;). Is anyone running a newer build? Worth upgrading?
NB: if you're on a Mac the Linux build works, although the graphical Exadel (Richfaces) stuff won't work yet.