Interesting. Sort of like Heroku with "instant install", no admin. I don't touch .Net with a 10 foot pole (yeah, letting my M$crosoft biases show), but this does look cool.
It's good to see people compete with Heroku and Engine Yard (and for more things than Ruby, as much as I love it.)
This is slightly off-topic, but I find it moderatly disconcerting that I'm a Rackspace customer and I didn't even think to mention the Rakspace Cloud Sites. They're also totally technology agnostic...
And they have good marketing! I wonder why my brain doesn't think of them first.