As of the 29th of March, SAN/iQ 8.5 is available for download – here are the details (from HP)

SANIQ version 8.5 allows customers to:

1 Reclaim additional capacity with network RAID 5 and 6 (up to 50% additional capacity utilization)
2 Simplify business continuity with application integrated snaps for scheduled local and remote sites
3 Analyze their existing configuration to ensure adherence to industry best practices
4 Support external FC/iSCSI/SAS via VSA, allowing customers to repurpose 3rd party storage

For more information on how to download and upgrade:

To download our SAN/iQ 8.5 software go to:

www.hp.com/go/P4000downloads

To download full SAN/iQ release upgrades go to:

www.itrc.hp.com/service/sum/home.do

Click on “Software Update Manager (SUM)”
Click on “Download Updates”
Registration on ITRC and linking a support agreement to a user ID is required to access full upgrades

**An update to this: SAN/iQ update files (for upgrading 8.1 to 8.5) are available here:
ftp://saniq85:SAN85eap@ftp.usa.hp.com/
** Well, I thought this was too good while it lasted. This link no longer works. It looks like you’ll have to use the ITRC link above in order to get the software. If this changes, we’ll let you know!**

Update 5-28-10: Check out this post where you can get a patch file that performs the upgrade, right off the HP site in the post:
http://blog.lewan.com/2010/05/28/hp-lefthand-networks-san-iq-8-5-new-download-location-for-patch-upgrading-previous-versions/

Thanks to vstorage.wordpress.com for the direct download link and info on this post! They also have a great post on the new features, here:
http://vstorage.wordpress.com/2010/04/05/the-new-networkraidfeatures-of-saniq-8-5/

The Lewan LPS team will hope to be doing some performance testing with the new Network Raid 5 feature here in the near future! Stay tuned!