Feb 21, 2012 06:21 PM|ColinBlair|LINK
I hear that more complete messaging on this will be coming soon. In short:
Yes, ASP.NET Web API replaces
WCF REST. WCF REST is no longer supported.
No, ASP.NET Web API does not replace WCF Data Services.
WCF Data Services is the full OData service stack, it both enables and defines OData.
ASP.NET Web API only supports a very small subset of OData.