Microsoft announced the betas for Visual Studio 2005 Express yesterday. They're an inexpensive line of Visual Studio products for the academic world or hobbyists. They look like a great way for anyone to learn the .NET languages and to get out there and develop.
Many thanks to Carl Franklin for the heads up.
[Update:] Looks like Tejas beat me to it. That's what you get for living on the other side of the world I guess...