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Soma (whose name you may or may not recognize) is in a position to know a lot about the future of Visual Basic (in his own words, from his intro post... "My name is Somasegar and I run the Developer Division at Microsoft." ), so when he decides to post about it, it is probably worth a quick read...
....A couple of the people in that session had some questions for me around our commitment to VB in the .NET world. I was a little surprised by these questions. That made me think more and I wanted to share with you my thoughts on this....