Earlier in the week I reported on reduced privileges for IE7, a move from Microsoft to improve surfing security. However, Tom's Hardware Guide is reporting that these reduced privileges will only be present in Longhorn.
From Microsoft's statement to THG:

"As part of Microsoft's effort to improve security in the browsing experience, low rights browsing - providing extensive security protections against system and data compromise - will be included with the version of IE that will ship with Longhorn next year. It will not be available in IE 7 for Windows XP SP2 because it takes advantage of platform improvements in Longhorn that enable users and applications to run with reduced privilege."
That's a bit of a wait for enhanced security, isn't it? Hopefully IE7 for XP will have a few other measures in place to keep surfers safe and phishers without a catch.