Do you think that C++ has gone the way of FORTRAN and COBOL? (Remember them?) Well Brandon Bray is someone you will want to listen to in this Channel 9 interview. Brandon talks about how Visual C++ is fully involved in the .NET Framework if you want it to be. C++ is evolving and is not going away anytime soon.
While languages like C+, Visual Basic and Java get a lot of attention today there are still some tasks the really call for C++. It's probably not the best first language to learn but somewhere in ones educational process there is real value in learning C++. If you are going to do operating systems work or other activities that get close to the hardware you are going to run into C++ somewhere along the line. You might as well be ready for it.