Hold onto your seats everybody, Asp.net development is getting crazier. Crazy awesome that is.

For a breakdown on what's coming check out this blog post
Excerpt:

Web Pages and MVC support HTML5, CSS3 and JavaScript
Real-time bi-directional client-server communication is possible via SignalR
Web APIs support JSON and XML return formats
Fast startup time and low memory consumption
Running different versions of the ASP.NET vNext framework on the same server is supported (Side-by-Side deployment)

Asp.net vNext is fully open source and is on GitHub

More about ASP vNext here

What is really exciting is that now it is possible to develop vNext Asp.net applications on OSX! Mac Development info here

You can skip to the good stuff on OSX vNext here

Asp.net MV6 .. vNext Asp.net is looking very interesting