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The following is an excellent presentation that explains the core concepts of Microsoft’s Cloud Computing strategy. Included is an overview of the Microsoft Windows Azure strategy with explanations and pricing of each component.
There is also a brief description of the high profile project Dallas. I’ve heard the Dallas project is one of the most prestigious to work on in Microsoft right now given its pivotal role in their Cloud Computing strategy. David Chou, an Architect with Microsoft put this slide deck together. It’s an excellent overview of the Microsoft Azure Platform and worth a look.