I've read this whole thread, and here's what I have to add.
This is definitely unfortunate, although I can say not unexpected. While I can't blame or get upset at Microsoft for doing this (and it's obvious why they're doing it: Metro development is critical for them atm and they want to encourage people to try it as much as possible, plus they're a company that sells software not hardware so again can't blame 'em), it is pretty sad. I still remember how happy I was when the first version of Visual Studio Express Edition became completely free!
It doesn't affect me very much at all, but I do see it as a hit and a potential (but not necessarily so) threat to general computation and development.
Right now you can make crossplatform apps/games very easily by using crossplatform technologies such as C++, OpenGL, GLFW, etc. and create binaries for classic Windows, OS X and Linux. You can't be easily developing a Metro app that will also easily run on other OSes.
Just one thing I want to point out that wasn't mentioned, Microsoft DreamSpark program currently offers Visual Studio 2010 Professional for free to students, so I hope it will similarly offer Visual Studio 11. Also, albeit quite time limited, you can use the beta version of Visual Studio 11 Ultimate for free right now. Of course, this isn't a long term thing.
That said, I've found myself switching to and liking Xcode 4.3.2 (which is free) these days. Has anyone else done a VS -> Xcode switch and what are your thoughts?
It wasn't easy at first. I've used Visual Studio exclusively from 6.0, 2003, 2005, 2008, 2010 and now 11, so that's a lot of years. I really like it. The first week of using Xcode 4 exclusively I felt "I really wanna go back to VS, I really wanna go back, I really wanna go back", but after a week I got used to it and now I feel comfortable, and IMO it's very competitive. It offers really good compiler support (current Clang/LLVM gives you better C++11 support than VS 11 Beta), the IntelliSense-like stuff is also really advanced and nice. The biggest hurdle is the lack of VS-like tabs. You have to get used to "navigate back/forward" shortcuts and using the file picker.
Anyway, right now Xcode 4.3.2 is my favourite C++11 development platform, although ironically enough I'm using it to create an
IDE of my own.