The IDE does add value, of course. But don't overestimate the value of "one more" IDE, which is what VS11 is. There are plenty of good IDEs, including previous versions of VS, which people can use already. It *is* all about the compiler.
I write a lot of code in C++, and to be honest, having worked with a completely broken intellisense in 2005, I can confidently say that intellisense (read: the IDE) has made more of an impact to my productivity than any optimisations passes or language features introduced since then.