I suppose this will be a moot point soon enough anyway. Once we all start writing entire apps in XAML, I can go back to "Visual" Notepad
I doubt this because VS for Longhorn will support Intellisense for XAML, and a graphical GUI builder for XAML and debugging for XAML and all the other features that make VS better than Notepad for C++/C#.
I think it's great that the compilers are free (and from what I hear the build program will be free for Longhorn) but I'm more than willing to drop some cash for all the great features of VS that make me more productive. It also helps that I'm a student so it's quite cheap for my learning purposes.