I'm pretty sure I don't like the new layout for Hotmail. It looks like an email when there's a corrupt file in it, and you have to click somewhere to "open it." It looks like a crappy database where they designate 2/3 of the screen to tell you at what time the email came in, and then cram the remaining information, like the subject line and the sender in the final 1/3 of the screen.
It's awful looking. Although, it's neat being able to see who's logged in on MSN messenger from your email account - it's like they've copied the Facebook template, but they don't have half of the features as Facebook.