Don’t take my word for it. Take a look at this blog post by David Ramel of 1105 Media Inc. In it David explains how easy it was to migrate an existing SQL Server database into SQL Azure running on Windows Azure and get an on-premise application talking to database in the cloud using the new database migration Script Wizard available free on Codeplex.
David also incorporated data from Dallas, the new Microsoft public data repository in the cloud. Dallas is Microsoft’s Information Service, built on and part of the Windows Azure platform to provide developers and information workers with friction-free access to premium content through clean, consistent APIs as well as single-click BI/Reporting capabilities; an information marketplace allowing content providers to reach developers of ALL sizes (and developers of all sizes to gain access to content previously out of reach due to pricing, licensing, format, etc.)