Now this is cool - a decent IDE for PowerShell. For some great reasons, Microsoft has chosen to restrict PowerShell to being hosted in the old console (which means it's pretty sub-optimal as an IDE).
However, an enterprising MVP, Dr Tobias Weltner, has develop a really simple and neat IDE - PowerShell IDE 1.0. This is at present free ware, which is even cooler.
Tobias is also the author of a cool commercial product called System Scripter. This also supports PowerShell. One really useful feature of System Scripter is WYSIWYG editing of .HTAs.
Pretty much as predicted, PowerShell has provided inspiration to a huge eco-system. While I know that that is what folks like Jeffrey Snover hoped for, but I think the reaction has exceeded even Jeffrey's expectations.