You may find this Channel9 video interesting. Juval Lowy, a Microsoft COM/WCF expert says it may make sense to may every class a WCF service, akin to DCOM
http://channel9.msdn.com/shows/ARCast.TV/ARCastTV-Every-Class-a-WCF-Service-with-Juval-Lowy/
That link argues that compromises are made in terms of performance for ease of use and ease of development over time. As this trend continues, the need for low-level COM/DCOM programming is reduced. Of course this doesn't cover every scenario, but it does cover many non critical business needs.
Should you learn COM? As it stands today WCF (and other parts of .NET) is based on COM. Having an understanding of COM will help troubleshoot those low-level issues that crop up, but unless it's your primary or secondary career focus, I wouldn't spend a lot of time on it.