Yes. I’ve been waiting for this one for a while. The SharePoint Diagnostic Studio is here as part of the SharePoint 2010 Administration Toolkit
Where to get it: http://www.microsoft.com/downloads/en/details.aspx?FamilyID=718447d8-0814-427a-81c3-c9c3d84c456e&displaylang=en
Figure 1 : How it is implemented
Figure 2 : Mmm, sexy graphics and metrics