Some new features have been introduced to the latest October CTP 2 of SQL Azure Service. The updated CTP still uses previous accounts, so you do not need the new invitation code again.
Following are some changes made to the new CTP:
With SQL Azure Services, you can now specify the maximum size for a database at the time of creation.
In addition, you now need to specify a list of IP addresses using the firewall feature which will connect to SQL Azure.
Once the IP addresses are specified and firewall settings in place, you can give the following command
CREATE DATABASE MyDB (MAXSIZE = 1GB)
You can read more on the list of changes over here