Microsoft describes Acrylic as "the codename for a new professional design tool that brings together the richness of pixel-based painting and the flexibility of editable vector graphics for a more fluid and flexible creative workflow. With Acrylic you can create sophisticated designs and graphic elements for your on-screen, Web, and print projects.."
Microsoft is offering the software on a 180 day trial basis, and are welcoming feedback via their online forums. for an extensive list of features, click 'read more'. Microsoft's long term plans with the software are somewhat unclear; the company already offers a photo editing produc