This is an exciting moment; Microsoft has opened its Office 365 cloud suite to a public beta of the service. You can join the beta here. Office 365 is the next evolution of BPOS.On the SharePoint point of View (there are other components as well like Exchange 2010 and Lync), it is just SharePoint 2010 farms hosted in multitenancy mode. .Net Custom code can be uploaded online and run in a sandbox environment.
An official launch of the product is slated for later this year.
Now, I’ve a very good reason to install SharePoint Designer 2010 on my laptop….