It was amazing to see the MSN messenger service available right through the Hotmail service today!
Google has already integrated mail with chat; yahoo followed and soon MSN had a web messenger, their take on the chat service.
Currently, you can login to Live mail and then set in your status to the right hand side of the mail window.
The contact status can be seen through the Mail Contacts window; those in green are available; i guess.
Microsoft has already started buliding blogs, and other socail networking features at Live, and a new great addition!