The ASP.NET Web Matrix Project (Reloaded!): "ASP.NET Web Matrix is a community-supported, easy-to-use WYSIWYG application development tool for ASP.NET. It can be installed via a quick 1.3 MB download (about 5 minutes using a 56Kb modem). New features include: Access database support, J# support, design time enhancements including improved table editing and user-control rendering, many bug fixes, and much more! Best of all? It's absolutely free!"
I'm still perplexed by ASP.NET Web Matrix -- either it's a placeholder until MS can cram all of its features into Visual Studio.NET or the Microsoft "strategy tax" dimensions Steve Gillmor and others have discussed are not uniformly enforced... The FrontPage team can't be too thrilled about overlap, in any case.