The Windows Live Mail team have updated their product to M8 (Milestone 8), included in this release is the updated 'flare' design that nearly all Windows Live products share.

This update includes:
- "Send email as ..." feature allowing users to send mail from other email addresses
- More contact display options
- A contact importer
- Better and quicker navigating using your browser's back and forward buttons
- Choose skins not just colours

Not all servers are running M8 yet as it is being rolled out over a few weeks to make the update smoother, so to see it in action sign in and head over to http://by117w.bay117.mail.live.com which it is already running on.

It is thought that this will be the final version of Windows Live Mail before it's release which is set for around the end of October or the start of November. With the release, the @live email addresses should finally be available. It is now known that these new email addresses should be available at most local domains (e.g. @live.co.uk, and possibly @livemail.fr) as well as @live.com and @windowslive.com.

Source: LiveSide
Windows Live Mail team blog post