Jaime Rodriguez has developed a Carousel Control for Silverlight Version 2 Beta 1. The source and the control sample is available at Jaime’s Blog:
http://blogs.msdn.com/jaimer/archive/2008/03/17/a-carousel-control-in-silverlight-2.aspx

I  upgraded it for Silverlight 2 Beta 2.
Download Carousel control for Silverlight 2 Beta 2 and a demonstration application

Thank you Jaime Rodriguez.