Microsoft previewed two new Internet-based software services, Windows Live and Microsoft Office Live. These services are designed to deliver rich and seamless experiences to individuals and small businesses.
Whereas in the past, the device was at the 'center', Live puts the user at the center. It's the user's data, regardless of the device on which it's being served. This allows uses to 'snack' on the information they care about, when and where they wish.
This is just a taste: there's lots more coming on this; I've started a new section called Windows Live to hold it all.
Microsoft Press Pass: “Microsoft Previews New Windows Live and Office Live Services”.