I tried the Express Beta 1 when it was first released with little success, I had to take my libs and includes from my VS.NET 2002 to get it to work sort of, and had errors.
If you are looking to get Visual Studio, I would honestly say do not go with express, but if you "have" to, I don't know what to say.
If you are looking to ask what one to buy, I can honestly say VS.NET 2003, I wish I had that, but am stuck with the origional (2002), 2003 would be nice as you can develop for your smartphone
I haven't seen anything about it working, and nothing about it not working, so if you are looking for the express version, I can suggest you download it and tell us if it works
If it does, then that will save some people the headache of relying on others to make a build.