The fifth wave of the Windows Live services is due in 2012 the earliest. In this wave, Hotmail could get revamped with HTML5-specific features too. For example, the Hotmail team is planning to support Offline storage.
Together with some partners, Microsoft has introduced the new Hotmail Active Views platform. With this new feature, you can interact with e-mails in a whole new way to do certain tasks right within your Hotmail inbox.
Microsoft’s web mail service Hotmail, part of Windows Live, now supports SSL encryption throughout your session. This helps that nobody in the middle can read what you get in your Inbox neither what you send.