For those who are curious to know where the .Net MicroFramework has gone, I encourage you to take a look at this cool stuff: the .Net Gadgeteer.
This prototyping platform allows for very, very, very quick prototyping of solutions involving sensors such as motion, webcams, humidity, light, temperature, microphone and ouputs such as leds, mini screen, audio. To write the software controlling all this: a few lines of C# in Visual Studio. Check out the video:
Cool, will this be a Microsoft product?