The first Virtual network feature is Azure Connect. Azure
Connect is the feature by which on-premise application will connect to Azure application.

For more details on Connect, please refer http://www.dotnetfunda.com/articles/article1293-introduction-to-windows-azure-.aspx

The second feature is Windows Azure Traffic Manager. This
will allow customers to load balance traffic to multiple hosted services. It
supports three load balancing methods: Performance, Failover and Round Robin. The
Windows Azure Traffic Manager CTP is now available.

Go to beta Programs section of https://windows.azure.com/. The programs
available for CTP are

Windows Azure Connect: The Windows Azure Connect CTP
provides secure IP-level connectivity between Windows Azure and on-premises IT
resources.

Traffic manager: The Windows Azure Traffic Manager CTP is a
new feature that allows you to load balance traffic to multiple hosted
services.

VM Role: The VM Role Beta Program includes a new Windows
Azure role that allows you to upload a custom virtual hard disk image of a
Windows Server 2008 R2 virtual machine and run it in Windows Azure.