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I think it is still free, but they just call the free version a trial.
I know the team still says it is available to use totally free without restrictions but they try hide that to promote people buying it.
 
Technically Invision is no longer free.
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Well, the free version is now on trial. However, I highly doubt Matt will keep it free forever. IkonBoard was free, and he didn't like doing that because it was opensource, free and also he technically worked for Jarvis Entertainment.

I personally don't believe Invision Power Board will be free forever. I think in the near future it will become a paid only product, and like vBulletin will have a Lite version which is barely usable.
 
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