It does, in fact, if you take your VBA code and paste it into the VB6 upgrade window, it will attempt to convert it for you. The only issue I had was most of the interfaces aren't available until you actually add the required libraries so you will probably have some types that don't convert properly.
Oh, and you have to make sure to install the .NET libraries for each version being used.
VS '10 Express comes with .NET 4.0 but I'm not sure if AutoCAD is fully compatable with this version - since I haven't built an AutoCAD assembly in well over a year ... and the last version I worked on was A2k8
Oh, if you get the entire VS package, you can also forray into C# ... it isn't hugely different from VB except in some of the code delimiters, and the fact that case is important (i.e. thisObject is different from thisobject) ... C# seems to be in-vogue right now ... although I never quite understood why, since VB.NET and C#.NET all get compiled to CLI anyway ... the reflector will convert the code between as needed with few modifications.
Good luck!
Could you provide a link for download?