Is PowerShell part of Windows 2008 Server?

Is PowerShell part of Windows 2008 Server? Not sure if Powershell is a part of Window 2008 Server? I cannot find it from cmd console. Just to avoid to download it again.
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Guest [Entry]

It is indeed bundled with Server 2008, although it needs to be installed using the method you mentioned. Note that this is version 1.0 of PowerShell, 2.0 is now available here (see bottom of page).