Visual Basic Comes to Windows Phone 7 (via WP7Dev Blog)

1. This is a CTP, which means we want to give you early access, and are
   hoping to solicit feedback, but this is not a final
   implementation, and you should not expect anything you built to be commercial
   ready.
2. There is no Go-Live license, which means you shouldn’t try to release apps
   built with this version of the technology.
3. You need to be a Visual Studio 2010 Professional (or higher) customer. So if
   you only have the Express edition of the Windows Phone Developer Tools, you
   cannot use this version of the CTP. I hear Visual Studio 2010 have a trial download if you are
   really itchy.
4. You cannot build XNA games. Silverlight apps only.

Obviously one of the most requested features developers can now code Winodws Phone 7 Silverlight apps in Visual Basic!