Microsoft has released ASP.NET MVC 3 for VS 11 Developer Preview

ASP.NET MVC is a framework for developing highly testable and maintainable Web applications by leveraging the Model-View-Controller (MVC) pattern. The framework encourages developers to maintain a clear separation of concerns among the responsibilities of the application – the UI logic using the view, user-input handling using the controller, and the domain logic using the model. ASP.NET MVC applications are easily testable using techniques such as test-driven development (TDD).
The installation package includes templates and tools for Visual Studio 2011 Developer Preview to increase productivity when writing ASP.NET MVC applications. For example, the Add View dialog box takes advantage of customizable code generation (T4) templates to generate a view based on a model object. The default project template allows the developer to automatically hook up a unit-test project that is associated with the ASP.NET MVC application.
Because the ASP.NET MVC framework is built on ASP.NET 4, developers can take advantage of existing ASP.NET features like authentication and authorization, profile settings, localization, and so on.

  ASP.NET MVC 3 for Visual Studio 11 Developer Preview