Charlene Li has her perceptions of MSN Spaces up here. Buried in the last paragraph is a gem:
"The next wave of bloggers is going to look very different from today’s blogger – their motivation will be on sharing experiences rather than having a place for their ideas and opinions. The integration puts the blog in context of other communications, such as email and IM. If you’re about to email me, you’ll see my latest post/photo – instant context setting..."
IOW, from the social customer perspective -- it's another place and another way to build the relationship between the individuals within and without organzations.
Right on, Charlene.