As published today in the Azure Team Blog, pricing is reduced for SQL Azure (by about 50%). 5 GB are now 26$ instead of 50$.
Furthermore SQL Azure is getting more attractive for small data apps with the new 100MB option:
Database Size | Price Per Database Per Month |
0 to 100 MB | Flat $4.995 |
Greater than 100 MB to 1 GB | Flat $9.99 |
-> 4 CHF/Mt for high availability, reliability and self-management.
See https://www.windowsazure.com/en-us/pricing/details/ for details.