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The first bits for Oslo should be available around the time of Microsoft Professional Developers Conference (PDC). Oslo will be available as an add-on to Microsoft's Visual Studio development suite. It includes a new programming language, a visual modeling tool, and a repository for storing models in a database.
Model-driven software development consists of a rule-based structure and workflow to make application development and deployment more efficient. The software should also be more stable and better suited to the needs of users. Oslo includes three pieces:
A modeling language is used by developers to specify the kinds of patterns and queries to be carried out by the software. Then the software itself would apply high-level queries to the model that the architect designed, simplifying and shortening the whole development process.
Oslo will (at least in CTP) be available as an add-on to Visual Studio, but with a visual modeling tool. The visual modeling tool will be helpful for comprehending complicated models. Underlying the visual modeler is a declarative programming language 'M' (formerly called 'D').
The repository is a SQL database of models and related metadata that allows developers or architects to look at models with database tools like Microsoft Access, Excel, or SQL Server Reporting Services. Likely, you'll have multiple repositories, such as for each project that would include models for business process, for security, and for other important elements of your software.
The schedule and final packaging for Oslo has not been announced.