Visual Studio 11 was finally revealed and its star feature is the free Express tooling, a platform-centric service which offers multiple language support for Windows 8, Windows Phone and Windows Azure. Fortunately, SKUs and hardware requirements of this new version are almost the same as Visual Studio 2010's.
The Visual Studio Express for Windows Phone is slated for release with the next version of Windows Phone, and according to the Visual Studio team blog, the Express tooling for Windows Azure is expected to be released with the next update of Microsoft's cloud platform.
As for the Windows 8, the Web and Team Foundation Server editions, they are currently in open beta and are downloadable.
The Visual Studio 11 Express package is perfect for desktop application developers wishing to do their job with much more ease, but for those who want to create content for Windows 8, Microsoft recommends the Professional version or higher.
Microsoft has also revealed the price for all Visual Studio 11 versions, which vary between £317 and £8,460 with an MSDN subscription. As a bonus, Lightswitch, which was previously available as a separate release, is now included on the Visual Studio 11 Professional, Premium and Ultimate builds.
Source: Visual Studio Blog