Windows Azure Platform benefits offered as part of MSDN subscription have been extended from 8 months to 16 months. In addition new Azure benefits have been announced. Benefits are available under BizSpark, Ultimate, and Premium MSDN Subsciptions.
Not all subscriptions qualify.
For Windows Azure, small compute instance is 750 hours per month, 10 GB storage, and a million transactions per month. For Windows Azure AppFabric, 5 service bus connections per month; million access control transactions per month. For SQL Azure, you get the Web Edition, three databases instances of 1 GB storage. In Europe and North America, you'll get 7 GB in / month and 14 GB out / month. For Asia, Pacific 2.5 GB in / month and 5 GB out / month.
To learn more about how the details and how you can activate your MSDN benefits for Windows Azure, see Windows Azure Platform Benefits for MSDN Subscribers.