UPDATE: The Release Candidate finally supports Razor IntelliSense.
Update2: The final release got announced here and it also still supports Intellisense for Razor syntax. Woohoo!
Here's a screenshot of the new enhanced Intellisense and Razor syntax highlighting:
For a great overview/introduction to MVC3 and NuGet I suggest you take a look at this PDC10 video.
Previous Answer
No. It doesn't work yet with the current beta:
Razor intellisense isn't in today's
beta. We needed to do a little more
testing (and bug fixing) before we
were ready to distribute it broadly.
It patches a few VS files and so we
need to make sure it is 100% solid
before giving it out broadly.
It will definitely be in the final
release, though, and should be
available for people to install in the
next few weeks.
Thanks,
Scott
Taken from http://weblogs.asp.net/scottgu/archive/2010/10/06/announcing-nupack-asp-net-mvc-3-beta-and-webmatrix-beta-2.aspx#7624491