For you creative gaming types with some C# skills, Microsoft has just released XNA Game Studio Express 1.0 and the XNA Framework. The development environment is geared toward letting students and hobbyists create games for Windows and the Xbox 360 (though if you want to run your games on the 360, you have to join the XNA Creators Club, which runs about $49 for four months or $99 per year and is available through the Xbox Live Marketplace).

XNA Game Studio Express 1.0 requires Windows XP (no official Vista support yet, though their FAQ says it will install on Vista).

Independent game developers rejoice!

Now somebody get to work and make me an Xbox Live version of Mail Order Monsters.