I have blogged about ASP.NET "Futures" and Dynamic Data Controls in my earlier post.  You could create a Data Driven Website very quickly using the "Dynamic Data Website" template that shipped with the ASP.NET "Futures" July 2007 CTP.

However, the ASP.NET Extensions 3.5 shipped in December 2007 bundles a bunch of Dynamic Data Controls that are more powerful and offer more extensibility than the ones shipped with the ASP.NET "Futures" July 2007 CTP.  Let me clarify a few things here on the releases:- (Feel free to correct me if I have missed out something)

November 2005   
ASP.NET 2.0 Released along with Visual Studio 2005  (No ASP.NET AJAX)

January 2007        
ASP.NET AJAX v1.0 released as an add-on to ASP.NET 2.0 (Works with Visual Studio 2005)

May 2007               
ASP.NET "Futures" a developer preview of some of the features considered for future releases released as a CTP

July 2007
ASP.NET "Futures" CTP Updated

November 2007   
ASP.NET 3.5 and Visual Studio 2008 released (ASP.NET 3.5 contains built-in newer version of ASP.NET AJAX, ListView, DataPager and LinqDataSource controls)

December 2007  
ASP.NET 3.5 Exensions (CTP Version containing new features for ASP.NET, AJAX and Silverlight)

Going further, ASP.NET "Futures" would still be updated as CTPs offering a developer preview of further new things considered for future versions, at an early stage. However, the Dynamic Data Controls that were a part of the ASP.NET "Futures" (July 2007 CTP) are becoming obsolete and the ASP.NET 3.5 Extensions Dynamic Data Controls is what would be continued and shipped.

If you have attended my sessions on ASP.NET "Futures" and Dynamic Data Websites, you would be excited to hear that with this extensions CTP, you get much more better support for customization, validation etc.,

Currently I am playing with the same and would follow this post up with newer posts on the same.

Cheers !!!