The new wave of hotmail features are great! Check the short videos here – http://www.windowslivepreview.com/hotmail/compare/
The new hotmail will allow you to edit an Office document inside the hotmail interface, and save the changes even if you do not have Office installed! Now that is a great feature! See the video here at 2 minutes we talk about this feature. http://bit.ly/cmG6aE.