Microsoft really focuses on Europe with it's technology :) since a lot of codenames are named after European cities. "Dublin" is the next city in line and it reveals technology for hosting and managing workflows and services.
The basis for "Dublin" technology is the fact that services deployment and maintenance can be really hard sometimes. So we need a useful functionality that can make life easier especially with WCF and WF services (WCF stands for Windows Communication Foundation, part of .NET 3.5 and above, similarly WF is Workflow Foundation).
With "Dublin" Microsoft will extend Windows Server with some additions to .NET Framework & IIS/WAS so that it will provide a significant enhancement of the Microsoft application server. WF and WCF will just work simply and quickly and make our life a lot easier when using and deploying services.
A small brain dump of interesting things heard @PDC on the "Dublin" session:
The basic takeaway of the session was "It just works!" and it looks really promising.
The other takeaway is that Dublin is fully extensible and can be used in different ISV solutions like Amberpoint (they provide software for management and governance of SOA applications).
See more info at Microsoft PDC website.