I mention this in my Windows 7 Preview, but just in case you missed it, Microsoft will soon be rolling out the services half of its Windows Live Wave 3 product wave. (The other half is the Windows Live Essentials application suite.) There are going to be some new services coming soon. These include:
Windows Live Photos, a new services for storing and sharing photos on the Web.
Windows Live Profile, a Facebook-like solution for communicating your status and key personal information to people in your contacts list.
Windows Live People, the new Live-wide contacts store.
Windows Live Groups, a service that provides tools for clubs, teams, families, and other groups that wish to connect, communicate, and share online.
In addition to these new services, Microsoft will be significantly updated existing Windows Live services during the Wave 3 timeframe, including Windows Live Spaces (which will pick up more social networking functionality), Windows Live Home, Windows Live SkyDrive, Windows Live Calendar, Windows Live Events, and Windows Live Hotmail.