Scott Hansleman posted this video recorded from a recent ALT.Net conference.

Scott Guthrie demo's the new MVC Framework from Microsoft which uses the MVC Front controller pattern that Ruby on Rails people would be familar with.

I definately recommend watching the presentation it's 60 minutes long but well worth it.

I'm undecided on the Framework yet until I get to play with it, but I do know that introducing a more disiplined, structured way of developing web applications with .Net is a good thing.