Somewhere I read that Visual Studio 2008 Express Edition could be used
"royalty free" for commercial applications (and I always believe everything
I read on the Internet).

I reread the MICROSOFT SOFTWARE LICENSE TERMS; MICROSOFT VISUAL C# 2008
EXPRESS EDITION document in greater detail, and in Section 9 I noticed:

<quote>

You also may not

[...]

use the software for commercial software hosting services.

</quote>

The document refers to "distribution" in several different contexts, but
this is the only mention of "commercial" use it contains.

What is the definition of "hosting services"?

But more importantly may I sell or profit from something I build with Visual
C# 2008 Express Edition? (assuming I could find someone that would pay good
money for something I conjure up)