Well it's been a long time coming but it looks as if Microsoft have decided to release a standalone 'crawler-based search engine' (based on its SharePoint offering) set to replace its rather dated (albeit free) file-based index server in the first half of 2008.
There will be two editions plus the full blown Office SharePoint Server.
It is worth investigating the free express edition at least, which looks like it may suffice for smaller projects... you can get the RC version here.
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