As discussed on the official Windows Azure blog, .NET 4 will be available in Windows Azure within 90 days of RTM.  

This has been something of an FAQ with some of the ISV’s I have been working with so good to see a timeline for availability in-place and the initial work being done to get the framework deployed within the Azure operating system builds.

Are there any .NET 4 Framework scenarios you are planning to deploy on Windows Azure once its fully available in the cloud fabric?