Davor P. reminded me that today's release of Visual Studio 2010 comes with side-benefit for the students in the audience: You can get Visual Studio 2010 Professional for free via the Microsoft DreamSpark program. Here are the details:
Microsoft Visual Studio 2010 Professional is the essential tool for individuals performing basic development tasks. It simplifies the creation, debugging, and deployment of applications on a variety of platforms including SharePoint and the Cloud. Visual Studio 2010 Professional comes with integrated support for test-driven development, as well as debugging tools that help ensure high-quality solutions.
To qualify for this offer, you need to get verified, which basically involves having your school verify that you're a student or via a student ID.
Also, for you non students out there, check out the new Visual Studio 2010 Express editions, which are free for one and all. (Thanks to David S. for the tip on that one.)