Has anyone given this a shot yet?
I signed up for free through this microsoft site
http://ideas.live.com/ and finally got an acceptance. Basically it turns your hotmail inbox into a very easy to use GUI that directly resembles outlook 2003. I know a lot of people on these forums (from home or work) also use outlook and have become accustomed to the well structured layout.
The new hotmail offers 2GB of storage, instant spell checking, the ability to transfer over your current outlook contacts, calender, and anything else that you currently have stored in outlook. Also, you can delete emails by clicking the delete button on your keyboard as well as drag and drop mail into folders and all that fun stuff..
It really is one of the better idea's I've seen from Microsoft lately and best of all it's free.. I usually despise most Microsoft products and crap on them, so I guess a good product deserves a relatively good review.. I'd recommend anyone who uses hotmail to sign up and hopefully you will get an email back ASAP with the free upgrade..
The only reason I've really hated IMAP mail is because of the lame interfaces, this new interface is definitely light years ahead of any other one available. Give it a shot, I usually don't promote Microsoft but this is actually a good upgrade for once (and free)
Here is a pic of what to expect: (left pane is ur folders, middle pain is your messages which you can drag and drop into folders on the left, and right pane is a preview of the currently selected email)

Also, I blacked out stuff so Fetus doesn't come knocking on my door when he's on the west coast after he's done with snarf hahah