While I was in Redmond I met Alon Fliess, who like me is a C++ MVP and is exploring Windows 7 (and Vista before it) from a native point of view as well as a managed one. About two months ago he mused about the "rebirth" of C++ in these times, not just because some of those operating system APIs are easier to get to from native code, but also because of new native capabilities (the continued MFC updates, the native Web Services library, the concurrency services) that just keep being added to the arsenal available to C++ programmers. (He has some helpful links in the blog post - you could also search through here if you like.)
I think it's a good point. If you know C++, now's a good time to use it. If you don't, then hang around (at least virtually) with those who do - we can point out some cool things. And thanks to the magic of interop, wrappers, and C++/CLI, perhaps we can make some of those cool things a little easier to get to from managed code.