See below for a much updated list of .NET resources.
This will be a living list, please post any suggested updates to this thread. If they pass muster, they will be included in the lead post.
Resources:
SitePoint
.NET Articles
.NET Blog
Build Your Own ASP.NET Website Using C# & VB.NET
Build Your Own ASP.NET 2.0 Web Site Using C# & VB, 2nd Edition
Key Microsoft Resources (Framework)
Microsoft Developers Network (MSDN)
.NET Framework Developer Center
.NET 2.0 SDK:
x86 x64
.NET Framework 3.0
.NET 1.1 SDK
MSDN Library:
Online Download December 2006 Edition
Visual Basic Developer Center
Visual C# Developer Center
Key Microsoft Resources (ASP.NET & Sql Stack)
ASP.NET 2.0 Site
MSDN ASP.NET Developer Center
MSDN Web Services Developer Center
MSDN SQL Server Developer Center
Microsoft Patterns & Practices Team
.NET 3.0 Community Site
Express Editions Downloads
Microsoft has released free, but limited versions of Visual Studio for use by hobbyist developers. In addition they have also released Sql Server Express for use with smaller applications. Get them from the links below. [NB: Some of the Visual Studio Express editions include Sql 2005. Downloads do require registration.]
Express Editions Home Page
Visual Web Developer Express
Sql Server Express
Visual Basic Express
Visual C# Express
Visual C++ Express
Visual J# Express
The .NET Show: Microsoft Videos on all things .NET
Other Free Development Environments
#Develop: free, open-source C# development environment.
ASP.NET Web Matrix: Microsoft's free ASP.NET 1.1 development environment. Very limited, but great grandpappy of Visual Web Developer Express
Mono Project (or .NET on non-Windows platforms)
The Mono project is a very well-run effort to port the .NET runtime to the *nix environment.
Mono Project Home
Mono Framework Downloads
MonoDevelop: Cross-platform development environment for .NET code.
Mono Migration Analysis Tool: a tool to check if your code will work under Mono.
Getting Started Guides & Tutorials
GotDotNet quickstarts
Learn ASP.NET
C# Station C# Tutorial
ASP.NET Starter Kits
.NET Oriented Websites
411 Asp Resource Guide
4 Guys From Rolla: Many tutorials and guides.
The Angry Coder: a plethora of .NET articles.
ASP.NET Resources: handy ASP.NET resources; emphasis on standards compliance.
CodePlex: MS' open-source project home.
CodeProject: Reams of user committed code. Non-reviewed so YMMV.
ConnectionStrings.com: for when you cannot remember that connection string.
DotNetKicks: d1gg for .NET land.
GotDotNet: Home for alot of older .NET projects.
Grid View Guy: Handy ASP.NET guides and tutorials.
PINVOKE.NET: Wiki site for calling unmanaged APIs from your managed code.
The Server Side .NET: Enterprise-oriented development guide.
The Daily WTF: because knowing what not to do is as important as knowing what to do.
Blogosphere
Asp.NET blogs: The grandaddy of 'em all, Microsoft's ASP.NET mass blogging site.
Geeks With Blogs: Another meta-blogging site with many different folks blogging about .NET
IE Team Blog: Blog of the Internet Explorer team
BCL Team Blog: blog for the team dedicated to maintaining and expanding .NET's Base Class Library.
ADO.NET Team Blog: blog for the team dedicated to maintaining and expanding ADO.NET.
Scott Guthrie's blog: weblog of Scott Guthrie, General Manager for just about everything .NET.
CodeBetter.com: Another great .NET blog
You've Been Haacked: Phil Haack's weblog, lots of great cutting edge stuff.
Coding Horror: Jeff Atwood's rather insightful blog.
Development, Building & Testing Tools
NUnit: a very popular unit testing framework, along the lines of JUnit.
MbUnit: another unit testing framework for .NET applications.
NAnt: an xml-driven build tool, similar to Java's ant.
CruiseControl.NET: a continuious integration framework for .NET
nCover: A code coverage framework, allowing one to see which lines of code are tested using your testing framework of choice
TestDriven.NET: a visual studio add-in allowing for nearly one-click execution of unit tests and integrated code coverage. Free for hobbyists, cheap for professionals.
Miscellaneous Important Libraries & Frameworks
NHibernate: a .NET port of the venerable hibernate library of java fame.
The Castle Project: an umbrella project for some open source tools designed to simplify enterprise .NET development. Key projects inlcude
MonoRail and
ActiveRecord.
The Microsoft Enterprise Library: a set of library and frameworks for building large applications. Key parts include a database abstraction layer as well as an exception handling and logging framework.
CSS-Friendly Control Adapters: Adapts the standard .NET controls to render output using CSS for layout.
SubSonic: the hawt, new data access framework for .NET
log4net: A .NET port of the popular log4j logging framework.
ASP.NET Ajax Frameworks
ASP.NET AJAX: Microsoft's ASP.NET Ajax framework. .NET 2.0 only.
Magic Ajax: Lighter-weight Ajax framework for .NET.
Ajax.NET Professional: Another light-weight Ajax framework. Works with .NET 1.1.
Popular ASP.NET Applications
SubTEXT: an open-source, .NET blogging engine.
DasBlog: the other open-source, .NET blogging engine.
Rainbow Portal: an open-source .NET web portal application.
Umbraco: an open-source .NET web portal application.
DotNetNuke: a web portal application; one of the original .NET open-source applications.
Community Server: A community-oriented application, featuring forums, blogs and other goodies. Free for non-commercial use and relatively cheap otherwise.
FlexWiki: An open-source .NET wiki application.