Microsfts has launced a free betaversion of what they claim will be a worthy Adobe Photoshop competitor. You can go to microsofts pages and use the search to find it (acrylic). You have to register a passport account to get a link sent to email, and then you can download it. If you are paranoid or just don't like microsft, you can type in bogus registration info, but the email must be valid. It's actually a pretty neat program with some cool filters for your pictures. The file is about 77 mb, but their servers are fast.

I did a quick Google search on "Microsoft Acrylic" (with and without quotation marks) and it returned things from magazines and other media sources such as PC Mag and stuff but a search on the actual microsoft.com site returned no product page, no download link, etc.

Maybe Microsoft has decided not to continue this product. I know they have released other graphic design tools such as Paint .NET and Microsoft PhotoDraw 2000 (part of the Microsoft Office 2000 suite).