If you're primarily doing "graphical" things, WPF is probably the best thing to focus on. And don't forget it's "little brother" Silverlight, if you're doing web-based development.
If you've previously done things with .NET Remoting or Web Services, then WCF is definitely the way to go for the future.
If you're doing database type applications, then LINQ (and specifically LINQtoSQL) is what you'll be after. Be careful with the LINQtoSQL, though, could well be replaced with LINQtoENTITIES in the future (as part of the Entity Framework).
Note that LINQ is a much broader technology, though, and can be applied to XML, Objects, in fact, you could write your own provider to allow a LINQ-to-anything if you want! (The authors of the excellent book, Linq In Action write a LINQ-to-Amazon in it, for example).
As a broad technology, LINQ is made possible by other underlying technological improvements like Extension Methods and Lambda Expressions, so if you want to really delve into LINQ, you can learn these, too! This in turn leads onto things like Expression Trees for when you want to really know what's going on "under the covers".
Overall, I'd say LINQ is the best thing to focus on. It's got many multiple uses (i.e. Not focused on one or two specific "areas" of development), is built upon a whole bunch of other technological improvements in the .NET languages, and moreover, will probably be built upon even more in the future (i.e. Lambda expressions are the start of introducing more of a "functional" language into C#!)