Steven Sinofsky posted a new entry on the Building Windows 8 Blog about the next generation file system being introduced in Windows 8

We wanted to continue our dialog about data storage by talking about the next generation file system being introduced in Windows 8. Today, NTFS is the most widely used, advanced, and feature rich file system in broad use. But when you’re reimagining Windows, as we are for Windows 8, we don’t rest on past successes, and so with Windows 8 we are also introducing a newly engineered file system. ReFS, (which stands for Resilient File System), is built on the foundations of NTFS, so it maintains crucial compatibility while at the same time it has been architected and engineered for a new generation of storage technologies and scenarios. In Windows 8, ReFS will be introduced only as part of Windows Server 8, which is the same approach we have used for each and every file system introduction. Of course at the application level, ReFS stored data will be accessible from clients just as NTFS data would be. As you read this, let’s not forget that NTFS is by far the industry’s leading technology for file systems on PCs.

  Building the next generation file system for Windows 8: ReFS