Some curious engineers asked for more info at Microsoft about the Bear Paw project, a engineer posted parts of Microsoft's reply in a forum of a consultancy company (source below):
Microsoft have made it very clear at this time, the specific features that will be included in Bear Paw have not been confirmed.Eric Rudder did reference Bear Paw and did imply that it is targeted for Microsoft FY04 (July - June 04.) release.Eric Rudder's reference was pre-mature.We have now been advised by Chandra Shekaran, the Terminal Server group manager, that Eric Rudder should not have mentioned Bear Paw! Bill Veghte has already spoken to him and advised him that at this stage Bear Paw is undefined re features or Release dates.Microsoft public position on Bear paw at this time is - Bear Paw is the code name for the next release of Terminal Server. Its features set and release date are at this time undefined.Chandra confirmed to me that Bear Paw will not be released on its own, it will either be part of a Service Pack or a major release. He specifically said that it could be part of win2k3 SP2 or Longhorn - but nothing is decided.