Really simplyment: VB.NET is moooore flexible than VB, really object oriented and VB is no longer supported by Microsoft.
If you have old VB6 project it is hard to port it to VB.NET (also if they say that it can be done...), but if you start now with new projects you should do them with .NET.
I would suggest you to migrate, Object Orientation is really one of the most useful things you will ever have in programming and VB.NET is fully OOP. And the wealth of classes in the Framework is all worth it.
If you are looking for an IDE and dont want to use VS.NET there is a free one: www.icsharpcode.net
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