I post articles on another website dealing with COBOL and .NET interaction. One of the articles posted recently was how to call COBOL from C#, both procedural and object oriented. Someone asked me how would you call C# from COBOL? Well before I could respond to the question the person replied they figured it out! And they said it was quite simple and sent me the code to look at. The person did a great job, kept it simple and (here's one my pet-peeves) DOCUMENTED what was done!
So you see, there are others out there doing COBOL and making it work with Microsoft's languages. It's not difficult, just takes some figuring out the data translations. Bottom line, don't throw away your years of investment in COBOL just because it's COBOL! It can and does work fine (and most times better) in a distributed environment. Not convinced? Try it. I promise you won't be disappointed and will be pleasantly surprised.