Here is the official announcement:
What is new in Service Pack 1 http://www.microsoft.com/SystemCenter/DataProtectionManager/en/us/WHATs-NEW.aspx
Here is the downloads
DPM 2007 sp1 x86 http://go.microsoft.com/fwlink/?LinkId=125991
DPM 2007 sp1 x64 http://go.microsoft.com/fwlink/?LinkId=125992
SP1 videos on TechNet Edge http://edge.technet.com/tags/DPM
and upcoming webcasts.
http://msevents.microsoft.com/CUI/EventDetail.aspx?EventID=1032399151 on January 8th.
Besides all the other features from this SP1 for Hyper-V, Windows 2008, Exchange 2007 and SQL 2008 enhancements, i am looking forward to enabling Microsoft Office SharePoint Server 2007 and Windows SharePoint Services 3.0 to receive index protection, significant catalog optimization, and support for mirrored content databases.