Since releasing the WP7 emulator the packages have been slowly taken apart. The wallpapers and the tones have been separately extracted. As expected, the wallpapers are in 480×800 and the ringtones are in wma format. There are 6 wallpapers and 23 sounds (not all are ringtones). And many of them are duplicates of existing ringtones with a new spin on them. It also appears that MS has gone outside of the corporate headquarters as the authors of the sounds list Matthew Bennett and Benjamin Bethurum for some of the tones.
The download can be found here.