The final release of the ASP.NET and Web Tools 2012.2 update is unleashed. 

This update is a free download for Visual Studio 2012 and .NET 4.5, and adds some great additional features to both ASP.NET and Visual Studio.

This update makes no changes to the existing ASP.NET runtime, and so it is fully compatible with your existing projects and development environment. Whether you use Web Forms, MVC, Web API, or any other ASP.NET technology, there is something in this update for you.

Click here  to download and install it today! This ASP.NET and Web Tools update will also be included with the upcoming Visual Studio 2012 Update 2 (aka VS2012.2).

Above excerpt is taken from Scott Guthrie's blog where he has outlined some of the enhancements and additional features in brief,

http://weblogs.asp.net/scottgu/archive/2013/02/18/announcing-release-of-asp-net-and-web-tools-2012-2-update.aspx