A couple of years ago, we partnered with TeamDevCentral to set up one of the first hosted Team Foundation Server clouds.  It was the very beginning of our thinking on what a cloud based ALM solution might look like.  Since then Rational eyes, the company behind TeamDevCentral has continued to chart new territory. Most recently they worked with us to create a case study about some great work they've done with QuestionMark to host virtual lab environments along with TFS in the cloud.  It's great way to improve productivity and focus on what your core business is.

http://www.microsoft.com/casestudies/Case_Study_Detail.aspx?CaseStudyID=710000000646

Brian