It's gotta be free. It's hobby, after all, not a business!. Creating for-profit software isn't an issue, but anything that requires a hardware mod is out.
The XNA Framework Redistributable provides the necessary runtime components to execute a game on Windows that was developed using Microsoft XNA Game Studio 4.0. This release contains improved functionality as well as new features.
Nope, I don't think so. The only other .NET environment for consoles I know costs money and is called unity3d: http://unity3d.com/
I think it supports the iPhone and the Wii and uses Mono as runtime environment. 200 bucks and you are in :)
No, all of the major consoles, except for the Xbox 360, do not have open development environments. There are various homebrew kits you can get, but these aren't sanctioned by the console makers (Nintendo, Sony, and Microsoft), so at best, you'll only be able to give away ROMs of what you make for free. If you try to sell anything, you'll get sued into the ground.
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