I've never used Delphi, mostly VB and VFP, but I would think if Delphi 7 is built on .Net then its capabilities would be just like C# or VB.Net with different syntax. I would be interested to know if that is true or if its like Delphi 7, everything .Net plus all these extras.
I've also heard, although I don't know if its true, that there will be Cobol.Net, Pascal.Net and others.
Bill