I just got an email from Microsoft Media Information regarding an invitation to join Microsoft AdCenter Analytics in its Beta stage (MS equivalent to Google Analytics). [more]
It links to this SignUp page for adCenter beta and pilot Programs along with some additional information from Carolyn, a member of the adCenter Community Team.
Signing up would not give you direct access to the programs right away but I believe it adds you to the list of recipients for invitations.
After completing the actual signup for adCenter Analytics, there is a wizard to set you profile information (similar to Google Analytics) along with the domain (site) that you will track/manage. And then a screenshot of the Analytics Main page (sort of dashboard) can be downloaded here.
So, if you're into this stuff (and you should be if you're a web developer and somehow if you're a blogger) go try it out while things are still free.