WCF or ASP.NET Web APIs? My two cents on the subject

A couple of weeks ago (around Feb. 16) the WCF WebAPIs - a framework for building RESTful/Hypermedia/HTTP services, which was in development over the past 1.5 years as a side-project on CodePlex, has been formally integrated into ASP.NET and its name changed to the ASP.NET Web API. These past two weeks, there has been a lot of questions among WCF developers: What does it mean that the Web APIs are no longer a part of WCF – is WCF dead? Has SOAP gone bankrupted? is HTTP the new way to go for interoperability? This post will try to answer those questions.