From the XNA Team Blog:

In April of this year you’ll be able to download an update to XNA Game Studio Express, this release mainly focuses fixing your requests and issues that you’ve filed through the Microsoft Connect site(yes, we really do read and respond to your bugs and feedback as best we can).

A list of improvements for the release is given on the site. What I found most interesting are the items that he saved for last:

Developer sharing of packaged XNA Game Studio Express Games

  • Users can now package their binary games into a single file to share with other users of XNA Game Studio Express.
  • These files can be emailed or hosted on websites like any other files.
  • To run a game double click a file and it will unpack to your Windows based PC or Xbox 360 console, it’s that easy!

This is amazing, although you will need to shell out at least $49 for a Creators Club subscription that will allow you to take advantage of these. However, the compilers and the game libraries needed to develop the actual games are free to download, and there are plenty of training materials available as well. Developing for the PC is free, and seeing your game run on the XBox 360 costs less than a hundred dollars – just a few years ago, this was unheard of! It really is an exciting time to be a game developer :D