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Microsoft Visual Studio Express is an Integrated Development Environment (IDE) and a freeware version of Visual Studio. This package can be considered as a learning IDE for students, hobbyists and newcomers to Visual Studio programming.
Visual Studio Express includes the following components (products):
VSE has a number of limitations. Each of the VSE products lack certain features and/or have reduced functionality, e.g., no publishing of self-developed websites, reduced refactoring capabilities and no attaching debuggers. In addition, SQL Server Express is limited to one physical CPU, 1 GB buffer pool memory limit, no data mirroring and/or clustering, no workload throttle and no Server Agent background processes.
In short, VSE is good for those who are new to .NET development, but you need the real thing to do any "real" development.