On10 has a video interview with Rob Bennett from the MSN Soapbox Team, as well as 10,000 invites to the closed beta run from ideas.live.com. So if you haven't signed up yet, this is probably the easiest way to see what the site is about.
(Note, the on10 signup link will not let you register if it detects you are not from the USA. Way to go guys.)
While the basic functionality of Soapbox is good, don't expect it to be worth $1.65B anytime soon ;)