Scott Guthrie just broke the news that the "Atlas" framework is the recipient of not just one new name, but three!
While the Microsoft Ajax Library and the ASP.NET 2.0 Ajax Extensions are seemingly good names, I do question the emphasis on Ajax. The artist formerly know as "Atlas" was all about Ajax, but offered much more in the web client space than just Ajax.
The other beef I have is the insistence on capitalizing Ajax. The Ajax design pattern has grown up far beyond the AJAX acronym. When most of the data being pushed across the pipe in an Ajax application is not XML, but ususally a serialized instance of a data object - the leaning on the acronym seems silly to me.
All that aside what "Atlas" was and will become is a great asset to any web developer. Congratulations Microsoft!