As I explained in the recent Channel 9 video, the commercial adoption of languages is very context dependent. There are many potential appropriate and sensible commercial uses of F# (e.g. to crack spreadsheets and perform non-trivial financial calculations, or to do server-side analysis of game data, as done at Microsoft). However you can easily think up examples where it would not yet be sensible to use F#, e.g. line-of-business applications better done in C# or VB, to name but one example.
At this stage, it's fair to think of F# as one of a portfolio of tools in the broader context of .NET. Certainly your company should feel comfortable with using .NET and understand what its related technologies do and dont give you. You should also plan to be able to write any particular part of your code in C# or VB. In this context the use of F# becomes a little clearer: the functional programmers and more mathematically-oriented people in your org will value it and be able to write interoperable components using it.
We also encourage potential commercial users to make sure they invest properly and get copies of VS2005 to use with F#, as it does make a big difference to the development experience.
Of course the license makes the exact terms of use clear.
There is no current "community longevity" plan, though we are discussing it internally at Microsoft Research. We understand that's a really legitimate concern. If you would find a more liberal license potentially useful please put your case in an email to me (dsyme, AT microsoft.com) and I will pass it along.
Thanks
Don