Regarding distribution for XNA homebrew...
Distributing XNA title binaries appears to have been made deliberately challenging

, but nothing prevents you simply zipping, uploading, and hosting your XNA title
sources on a web site (
X-S could start an area 
Strike that - SourceForge would be a more appropriate host) for other XNA users to download, compile, and execute, and enjoy

. No
IP protection, but your work can be enjoyed by others without M$'s involvement (i.e. The OpenSource distribution model

).
NB: No doubt C# source code obfuscation tools appear to temporarily address the IP issue.