Danny Gould has a new (beta) version of his Internals Viewer, that you can download from Codeplex at http://www.codeplex.com/InternalsViewer
I've just started playing around with it, and the coolest thing is that it integrates right with your Management Studio!
The codeplex site include a Troubleshooting Guide and a User Guide.
It does look like it can display SQL Server 2008 data pages that have been compressed. For pages with ROW compression you'll be able to see the data, but for PAGE compression, no translation is done.
You can also request to have information from the transaction log displayed, but it's not the same as the 3rd party log reader tools, in that it doesn't give you the complete set of values that were inserted or deleted.
I'm still exploring its nuances, and now you can too!