Wolfram Alpha will still live on as a standalone site, since Microsoft is just licensing their search API for Bing. And to be fair, this is what most people—including us—envisioned for Wolfram Alpha from the start:

I'm aware of the theoretical differences between the two, and I'm sure Wolfram Alpha's creators' blood would boil at the thought, but the engine's most natural home might be as a direct complement to Google, as a tab on their homepage or as a replacement for their modest current nonsearch functions.

Well, uh, almost. Maybe this'll be a good time to give Bing another shot? [CNET]