This ASP.NET MVC 3 Performance Profiler as well as the recent ASP.NET MVC 4 Roadmap were recently added to the long list of ASP.NET MVC 3 Tutorials and Resources.
MVC-Mini-Profiler is a free, open-source ASP.NET MVC 3 Performance Profiler on Google Code.

Per the website, the profiler includes powerful and comprehensive database profiling capabilities. To enable wrap your database connection with a profiling connection. The built in database profiler support any kind of DbConnection. It also supports Entity Framework and Linq2SQL.
The ASP.NET MVC 3 Performance Profiler also detects SELECT N+1 queries and duplicate query detection as well as profiles AJAX Calls!
For more on performance profiling ASP.NET MVC 3 Web Applications and MVC-Mini-Profiler, check out Google Code.
David Hayden
Filed: Microsoft .NET Developer Tools
Related: Tampa ASP.NET MVC Developer Group