Windows Live Hotmail is being significantly updated in Wave 3, and while some of those changes--like the new user interface--have been rolled out already, many more features are being added in the next couple of months. These features include significantly improved spam filters, free POP3 access for all Hotmail users, the ability to access multiple email accounts (including Hotmail, Gmail, AOL, Yahoo! Plus, and many others--from a single Hotmail inbox, and unlimited email storage that simply grows as you need it.
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