Interesting announcement on the Eiffel Software site: the ENViSioN .NET version of Eiffel will be a free download. To quote:
The Free Edition is targeted for students, hobbyists, and non-commercial developers who wish to be able to take advantage of the pleasure of programming in Eiffel, but who cannot justify spending a larger sum of money for features that they wont be using. The Free Edition has most of the features of the Enterprise Edition, except for some productivity-enhancing tools (EiffelBuild and auto-documentation) and commercial licensing (or ability to create a .NET signature for commercial software). Eiffel Software is pleased to provide this version as a service to all those in the world who want to be able to work with the latest from Eiffel Software.
According to the download page the release of ENViSioN is imminent.