The longest journey starts with the first step. I'm immensely happy to report that my team has taken that first step. We shipped a preview of our tagging solution a few days ago. It's a modest offering, but it's out, it's real, it works, and it's going to grow.
Dave Morehouse is the man responsible for the user experience, and I won't try and steal any of his thunder. We introduce the effort on the Microsoft.com/community page, but Dave's blog holds most of the detail.
Dave discusses the features of the preview/beta here, and talks a little about what the future hold here. We were torn on how much to reveal in that regard, but elected to come clean -- for the most part. It was just too hard not to talk about building one of Microsoft's first cross site tagging solutions that's also a social bookmarking solution and more. And the services we'll be able to deliver to customers that use it... Well, suffice to say that you ain't seen nothin yet.