The Castle Project is an interesting open source alternative to ASP.NET / ADO.NET. Among other things, the Castle Project provides a Rails-like development framework for .NET. It has an ActiveRecord implementation built on top of NHibernate, a very Rails-like MVC setup called MonoRail, and uses NVelocity for template style views. It's worth checking out. This screencast gives a bit of an overview.
There's tough competition around the corner though, with Orcas already in beta, providing XAML, LINQ and O-R mapping.