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Actually one of the main reasons MS came up with .Net was to get rid of COM, as COM is one of the reasons there are so many Buffer Overflow Exploits in windows (due to lazy programmers).
But because there are still so much legacy COM app's out there MS was forced to support COM under .Net.
But it will phase out eventually, but when? Nobody knows
I'd disagree with almost 100% of those comments, but I'm not looking for a fight.
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Is COM still supported? Is it going away?
COM is a feature of Windows. Each version of Windows has a support policy described in the Windows Product Lifecycle. COM continues to be supported as part of Windows. COM is a feature of the next version of Windows, Windows Vista.