I recently came across this while reading Australian IT and could not resist the urge to blog about it. Sun and Microsoft have teamed together and released Semplice. You might be wondering what is Semplice. Project Semplice - Visual Basic for the Java Platform, yes indeed. It will allow you to compile your program to Java platform and run it on any platform that JVM supports. You never thought that it would be possible to run VB6 on mainframes did you. Well here is your chance :-)
More details here, have fun. Would be interesting to see how this technology is received and pans out.