With Microsoft’s radically overhauled redesigned mobile operating system Windows Phone 7 expected to hit handsets in the US in the coming months, the production version of the Developer Tools will likely be released on September 16; and online applications store will be launched in early October.

Noting that the tools have been downloaded over 300,000 times, Microsoft said that the production version of the toolset is crucial in the sense that it not only shows the company’s ability to meet development milestones, but also assures developers about the stability of the development platform.

According to a blog post by Brandon Watson, Microsoft’s director for Windows Phone, the company has also added some new features and tweaks to enhance the final version of the Developer Tools, which will require a recompilation of the current Windows Phone 7 code.

Watson elaborated in the blog post: “The final tools will likely have some minor breaking changes from the Beta tools, so developers may have to fix some bugs that arise. The final tools will also include several highly requested Silverlight controls, which will make it even easier for developers to deliver high-quality Windows Phone 7 experiences.”

Furthermore, as per Watson’s blog post, the September 16 final release of the Developer Tools will enable the developers to incorporate the panorama, pivot and Microsoft Bing maps controls into applications.