Microsoft Volta has been creating quite a stir on the community blogs over the last couple of weeks.
From an 100,000 feet view, Volta leverages the Common Intermediate Language (CIL) to enable many-to-many mappings between applications ( could be different and compiled into same CIL). Basically you can use any .NET language to write your app, compile it to .NET and then with Volta, drive the post-processing to regenerate CIL. Once done, you can insert extra stubs of code inside the application to make it run across multiple tiers and re-deploy.
Another thought is that if you are working at the CIL level, the Volta tools can have a complete view of the application and by adding instrumentation, you can see where your applications has performance problems and you could potentially automatically build up a health model which could be managed from within
System Center. Same for security, Identity and so on.
The technology preview of Volta, now available to play with here.
There are also a few videos on this on Channel9 at the following locations
All the content on the subject can be seen at http://channel9.msdn.com/tags/Volta