.. If not, it's time! Between the amazing demos and the news about .NET support on different platforms and Ruby support in .NET - well it's enough to get me too excited for my own good. I didn't know much about Ruby until I attended the BarCamp in Dublin recently - but I was pretty impressed how quick and easy it seemed for building apps, so I can see why people would be justifiably delighted about it being supported by .NET.
A good introduction to Silverlight would be to check out the kinds of things possible - check out some of the keynote demos on www.visitmix.com. Some of my favourites were from Top Banana and Metliq.
And if you want to take a lighter look at the complex strategies Microsoft employs in their product naming check out Tim's Sneath's post on the Silverlight naming process... and be very glad indeed! ;)