I was working on application with Silverlight & OData to access CRM 2011 data. Due to limitations of OData, it has not a favorite choice of developers like me.
Currently it is not supporting metadata operations as well as late binding of data.
Microsoft has already announced regarding Silverlight + Soap access which will provide everything that is provided by Soap Organization.svc Service.
Finally, Microsoft comes up with SDK 5.0.1 which has sample for the same, I am attaching the same.