An original reading suggested a new cloud OS.“Microsoft has announced a version of Windows that runs over the internet”
However a clearer interpretation from CIO mag says its project Red Dog - a hosting environment for development projects in the cloud:
Impressively, there are already (non-Microsoft) applications out there like BlueHoo hosted by Windows Azure.
even has a Vista sidebar gadget
New sites as a result of PDC announcements:
A First Look at WF 4.0, “Dublin”, and “Oslo”: David Chappell