How Windows Live relates to MSN

Recently, Mary Jo Foley of Microsoft-Watch.com interviewed Blake Irving, Microsoft Vice President, Windows Live Platform Group. The transcript is at Windows Live: The 50,000-Foot View and contains the excerpt below:

Microsoft Watch (MSW): When I define Windows Live (in ten words or less), I call it Microsoft's services extensions to Windows. Do you have a better shorthand way to refer to Live? Is Live really more than MSN services rebranded – another definition some have applied to it?
Irving: When I explain Windows Live, I describe a service that seamlessly brings Web experiences together with Windows software and provides greater relevance in people's lives. Saying that Windows Live is simply extensions to Windows is too Windows-centric, and saying that it is MSN services rebranded also sells Windows Live short.