I managed to get my (legit) copy of Windows 7 Professional through my university's MSDNAA scheme, which I only just qualify for (as I graduated in July so my account expires soon), so I at least got it for "free" (to me).
The consumer prices that Microsoft are asking are ridiculous. For $170 or whatever you get very little besides a performance bump and some bling, while Snow Leopard is delivering a ton of very exciting new technologies, as well as a similar performance bump and a little less bling (but refined bling) for $25.
Windows 7 should be $25 for the "ultimate" version in all market segments, not just for students. It's ludicrous to think that anyone might pay so much for so little, when for 50% more you could get the damned thing on a brand new netbook!
MS is a software company. If they sold everything for cheap, where would they get money from. Apple gets their money from the hardware sales. MS does it from the software sales.