I held off on posting this for a while, mainly because I was thinking of ways to say more about it. Then, when great people like Tim Bray just say "Go read it", I figure I can pretty much do the same.
If you're still reading and haven't clicked your back button in disgust, let me explain. The most important thing is not how easy it is to build code, the most important thing is how well the code runs once it is built. This concept seems to have escaped the Longhorn developers, and from this viewpoint Longhorn and its underlying technologies are pretty unexciting.
Ole’s post is called The Emperor’s New Code – he figures for the most part that a lot of stuff that Microsoft announced is re-inventing the wheel. A chance to throw in whiz-bang without having to address any current problems.