A student pointed this out in class today. The free editions of Visual Studio 2005 Express won't be free forever - only until November 7th, 2006, which is one year from the launch. After that, it's assumed that the Express editions will be $49 each. You can find this information on the FAQ under pricing.
SQL Server 2005 Express edition, however, will remain free, as was promised during the launch events.
Why am I telling you this? So that you'll go download your free copies today!
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Disclaimer The opinions expressed herein are my own personal opinions and do not represent my employer's view in any way.