What's in a name :-)
So people where just getting used to the name SQL Everywhere and now Microsoft has decided to rename it to SQL Server Compact Edition. For one it help prevent confusion with SQL Anywhere (A Sybase product) and SQL Express.
So what does this mean for the product? Well very little is anything has changed from the announcements of SQL Everywhere. Its still targeted as a local data store for WinForm/smart client applications and is certainly not restricted to the .NET compact framework. So I still think this is a pretty cool product :-)