Express Throws "object is not a function" error with newest version of Express and Node.js?

Running the following with node throws an "object is not a function" error, referencing "express()" specifically.

var express = require('express');
var app = express();

app.get('/', function(req, res){
  res.send('hello world');
});

app.listen(3000);

I thought that I just hadn't installed it (using express scriptName, then npm install), but doing that simply created the default app.js file, and didn't include my code at all. Am I just not understanding the workflow here? What am I missing?

node --version
v0.10.10

express --version
3.2.6