I played around with XNA at the beginning of September but stopped, from memory, due to a couple of factors :
1) Time (as ever)
2) The current beta release seems to be missing all of what used to be the D3DX library, thu sif you want 3D then its down to editing in vertices yourself or come up with some propriatory model loading system (of which there were loads around already).
3) The 3D performance I got using the loop example from the template was not good, not as fast as MDX 1.1 I'd used previously.
4) They've swapped to RH format, no biggie but why?
5) Lacking support for Fixed Function Pipeline? Maybe it was just me but lighting didn't seem to be working using the FF pipeline and I got a funny feeling that DX10 will ONLY support shaders for rendering?
6) I wanted to use ODE.NET and that was for 1.1 (although someone had taken it and hacked it into .NET 2 - but I had problems wth it) and I didn't want to mess about with a dependancy on TWO versions of the .NET framework.
So I went back to the (now obsolete) Managed DirectX 1.1 for my little car demo project (i was feeling left out of Dark Physics and wanted to play
).
Having said all of that, even from the brief glimpse I saw, the potential of XNA, the stated goals etc, are just amazing. Sure it's cut down (and slow?) right now but it's great that they've done this and given it to the indies for first dibbs. I saw others making nice little 2D games (2D is much better supported right now).
The 360 stuff is great but I wouldn't get fixated on that. The fact that M$ are giving you the best IDE ever, the C# programming language, Managed DX 2 (and DX native of course), together with a pre built "engine", the "Microsoft.Xna.Framework.Game" class that you can just subclass to get up and running ASAP is amazing.
I've long been a huge fan of the Express version IDE's (recently preferring the FREE Web Express over the mighty DreamWeaver 8 - its that good!!!). They are so good that I keep asking myself "where's the catch?". So far i've not found it.
Basically its Managed DirectX 2 on steroids and 1.1 was great so I expect great things from this. And the fact that you don't have to pay a single penny for any of it. Its industry standard (in the making), its C#, its from the makers of the XBOX, and it's free. What's not to like?
@Kentaree, I was gonna say something very similar but deleted as I didn't want to upset anyone. But seriously, I don't know why anyone would want to use VB.NET over C#. I tried to go from VB6 to VB.NET but found it all seemed messed up and very "wordy" and OTT feeling. C# felt more like C++ but with far cleaner syntax and logical-ness. Also there are some things C# can do that VB cannot (I think) like unsafe code segments and pointer use, which make it a much better "game fit"? Also C# has a similar feel to Javascript, so if you do web dev (and I think @CR does) then again, you get a nice synergy there. Just my tuppence...