Boz just finished his presentation. I don't think this lived up to the hype people generated for it. It seems just like combining chat and messages and introducing a message history. I'm sure there were some huge backend changes, but I don't know how much this will change the experience for the average user.
It's not going to replace email.<p>Seems like it's a system for your friends. Their focus isn't for things like your bank account or anything else. It's very similar to email, but due to their knowledge of your friends they can simplify the white/black lists and prioritize communications.
My takeaway is that it's a bit like how your smart phone will wrap in your IM and SMS messages to a person in the same list interface.<p>I'm guessing this will be something where you select a person you know, and up pops a list of all of the interactions you've had with them in one stream.<p>Seems like it might work, if it's seamless enough. Saying it's "email" or an "email killer" is being short-sighted -- it's giving you a stream for an individual.
So this is more Twitter and MSN territory than Gmails's.<p>I feel that there has been some space for a MSN replacement for a while. Microsof lack of innovation of MSN is a sign.
(Wave tried to get it but failed though)