If you've been working (or idling) for a year or more since you hung up your full time academic cap and gown, the microsoft recruiting machine considers you an industry candidate. Many of my comments in the prior post about campus candidates will apply to industry candidates as well. In fact, I would say that ALL of it applies. They still do spare time coding projects outside work; they are constantly trying new technologies and reading to keep themselves technically sharp. The pick up on technology trends and can expound on where they think they should go. They are smart AND hard working. But for industry, the bar goes up (and it should!); they now have practical experience that should translate to a more polished set of skills.
So back to how to prepare yourself. If you are a developer and you want an SDE or SDET position at microsoft, the best way to prepare youself is to write code, read code, dream code. There's no secret here. Have it reviewed by others so that you get better. You'll want to take a 4 pronged approach to what you code:
During the interview process, you'll be asked lots of questions, from coding problems to open ended questions designed to test your creativity, to fundamental questions like math/logic based puzzles designed to evaluate your approach to problem solving.
And of course, don't be afraid to ask what kind of question this is. Why is a man hole cover round? Is it a logic problem, or a creativity problem? That really depends on who is asking it.