Wow...now THAT'S an interesting look and feel!! (Can you tell I log into my WL Mail about once every two months?) On the upside, I have been admitted to the Soapbox beta, which appears to be the video piece that Windows Live Spaces was missing (although I can't tell right now if they are integrated).
The whole thing that makes Windows Live compelling to me is if all of the pieces integrate together well. As all of the betas evolve, that's what I'm looking for more than anything. I'm somewhat new to most of these products - beyond email and messenger - so it's still a learning curve for me. Ray Ozzie talks about a simpler, less complex Microsoft that is easier to use. OK, cool, show me!