Warning! Be sure to backup your PDA contact and Contact List on Outlook first because it will try to sync Hotmail Contacts, MSN Messenger User and Outlook Contacts together which will create lots of duplicate entries.
MSN Messenger looks and works much better
Synchronization w/ Hotmail mail (Live mail) is not working and always timeout
Synchronization w/ news works so far.
The beta is feature rich but lots of bug currently. But Microsoft is going to the right direction to let users to have all information in sync.