With Azure Classic, I could create two VM's in the same cloud service and I would get one public IP for both, and it would automatically load balance traffic between the two VM's.
With the new Azure Resource Manager, I have no option to join a VM to a cloud service for obvious reasons. However, I still need to get one public IP for both VM's and have the traffic load balanced.
I saw that there is the Azure Load Balancer feature. Is this basically the replacement for the old cloud service load balancing? If so, does it cost anything to run?