Microsoft Office Outlook Live: Outlook Lights Up With MSN Hotmail: "Staying in sync any time, anywhere. With Outlook Live, any updates made -- from deleting messages and adding a new contact to scheduling a meeting or creating a new task -- using Outlook are automatically synchronized and reflected in customers' MSN Mail or MSN Hotmail accounts when they are online. Even changes made or e-mail messages composed while working offline are captured and completed when the customer signs back online, so they never have to worry about staying up to date. Best of all, customers can access this information virtually anywhere from http://www.hotmail.com."
"Megaserver" lives -- no doubt this will expand to include files and other more workspace-oriented storage sync in addition to channel-oriented sources such as email.