We’ve been waiting a long time for this: tonight Microsoft and Windows Live are announcing a major release of their Internet Services, what we’re calling the first “feature complete” version of Windows Live.

1. Windows Live Internet Services is being announced tonight, and will be rolling out over the next weeks, somewhat similar to the Hotmail rollout.  Internet Services includes Home.Live.com, the What’s New feed, Profile, People, Photos, Web Messenger built into Hotmail, and more.
   
2. POP support for email in Hotmail will finally be freely available, starting sometime around January.  This is full POP support, both into and out of Hotmail, for free.
   
3. SkyDrive will increase its storage to 25gb, and Hotmail will feature increasing storage from the 5gb it now features.
   
4. The What’s New feed will feature an extensive list of Partner participation, allowing users to include information from some 50 Partners so far, including Flickr, Amazon.com, Twitter, Yelp, Wordpress, and many more.  This means that when you post pictures on Flickr, or write a review on Amazon, or twitter a message, or write a review on Yelp, for example, that information will show up on your What’s New feed, and be shown to your network.