Blah... I just read the FAQ in a bit more depth.
It looks as though the Pro version is going to be useless unless you're a licensed developer.
Ah well. *mutters something about how things too good to be true probably aren't*
I wouldn't say useless :). From what I see, if you are not a licensed dev for the 360 you cannot add in xbox-live support. Other things like not being able to distribute copies as easily seems like its more of an 'incomplete' thing rather than a hobbist restriction. So...considering that ~99% of the people here don't plan on developing AAA games and just want to muck around with console game dev I don't see why its useless...considering the tools are free.