I bet the VS team is thrilled about this arrangement. Perhaps they can do away with the compiler and become just an IDE, since there are so many people who'd buy VS just as an IDE. /sarcasm
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.