<p>Will their be a new release of the compact framework with VS2010 and .net 4.0 and if so what new features will it include? 
WPF? 
linq to SQL?
etc</p>

I'm not sure about 4.0 for compact devices (although it seems likely),
and I don't know about WPF either, but I can tell you they are going to provide Silverlight for mobile devices giving you access to a subset of WPF.
Haven't found any other references yet...