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Careful. It’s not just a rename. It’s quite possibly the first evidence that Microsoft can actually release a useful, minimalistic, non-Passport-requiring, tiny, beautiful, non-.aspx-exposing, cross-browser web service. :)

Something like this would be quite useful with a real-time source/feed of images/video. Or connect remotely to your home camera and spy on your neighborhood.

Seriously though, there should exist an implementation like this (at least from security firms or NSA/CIA).

As far as I remember, Microsoft moved continued development of Seadragon AJAX from the Live Labs team to the ASP.NET team last year. It's interesting to see Live Labs continuing on the consumer side.