Microsoft released WSE 2.0 on Monday. I heard about it at Tech-Ed from fellow Candian Regional Director John Bristowe.
Go and download the Web Services Enhancements (WSE) 2.0 for Microsoft .NET and start using WS-Security (OASIS 2004 standard), WS-Policy, WS-SecurityPolicy, WS-Trust, WS-SecureConversation and WS-Addressing.