Sitting in at Ray Ozzie's keynote right now..

Main topic seems to be the main strategy of Microsoft and the overall directions.. Nothing too new, but he definitely has a way with words and describes quite well not just where microsoft is going, but also where the web in general seems to be going.. He describes 5 main principles, but already forgot the distinction.. This is the gist of it..

Cloud computing and storage.

Rumours are out microsoft is working on an Amazon EC2/S3 type thing.. There's definitely some hints in this keynote towards that. One great advantage he mentioned, and something I realized when I started with EC2 is that it completely separates hardware/operations with application developers.. Developers don't have to deal/worry anymore with physical hardware anymore.

He drops SQL Server Data Services and it seems like they're adjusting their software/app servers to work in distributed environments..

Future of application developments

Along with some really fancy animations he describes how applications aren't as tied together as they used to be, but we're heading towards much more loosely coupled applications, on both the front and backend.

As a result those components need to be tied together and speak a common language.. Mentions of IE8, standards compliance.. Silverlight as a tool to easily mesh up applications.