Today (right now as I type this) Microsoft has unveiled a TON of new features that are launching as part of Windows Azure. If youd like to learn more about these announcements and services, heres the short list of blog posts youll want to read/skim:
Scott Hanselman Windows Azure No Kidding
Scott Guthrie Meet the New Windows Azure
Bill Laing Announcing New Windows Azure Services to Deliver Hybrid Cloud
Jason Zander Announcing the June 2012 Release of Windows Azure SDK
S. Somasegar Visual Studio 2012 and the Windows Azure SDK
Brian Harry Continuous Deployment to Azure with Team Foundation Service
LightSwitch Team Publishing LightSwitch Apps to Azure with VS 2012
These announcements are still being made live at MeetWindowsAzure.com, and I havent had a chance to review all of these links yet myself, but this should provide you with the info you need to really understand what this might mean for your organization or as a developer targeting Windows Azure.
Congrats to the Windows Azure Team! This is some very exciting stuff!