In the BUILD event, Microsoft had just announced the latest Windows Azure SDK 1.5, Visual Studio Tool for Windows Azure SDK 1.5, and the Windows Azure AppFabric SDK 1.5. You can find them simply from the Web Platform Installer.
One thing I found for now is that, the database had been changed for the local storage emulator in this version. That means you need to recreate the storage database by running the DSInit command from the folder (let’s say you installed the SDK in driver C) C:\Program Files\Windows Azure SDK\v1.5\bin\devstore.
More information about the new features of SDK 1.5 please refer to the MS announcement here.
Hope this helps,
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