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The strides taken by .NET against DLL Hell can not be underestimated. By providing a means to ensure version compatibility between shared libraries and even within one's own upgrades, businesses have more freedom to upgrade their products and provide them to users for immediate download without having to spend the same degree of worry regarding dependencies that they do now.
Will .NET finally shut the gates to DLL Hell once and for all? Versioning is a complex problem - only time and experience will answer that. But the moves it has made help, in addition to its web service concept, to make possible the following software model: "software as a service".
More musings on the aforementioned