Get file version and assembly version of DLL files in the current directory and all sub directories

Here is a pretty one liner:

Get-ChildItem -Filter *.dll -Recurse | Select-Object -ExpandProperty VersionInfo

In short for PowerShell version 2:

ls -fi *.dll -r | % { $_.versioninfo }

In short for PowerShell version 3 as suggested by tamasf:

ls *.dll -r | % versioninfo