Nice, it looks like a lot of people are going to take advantage of this deal. And for those graduating or looking for internships, be sure to bring your resume along. There's always at least one HR person taking resumes at these things.
One thing though, there's no academic restrictions on Office XP and Windows XP, but the VS.NET is an academic version. Basically that means you can't develop any commercial software legally using it. Freeware is okay though. I don't believe its crippled in any way other than the licensing.