An updated implementation of hosted CRM 4.0 has been released to demo and allow trial of a hosted CRM 4.0 platform.
The new site can be found here:
http://www.hostedmicrosoftcrmtrial.com/
Note. This is not a Microsoft Dynamics CRM Online platform but one specifically built for our hosting partners and their potential customers.
One capability that is not supported is Outlook integration into the trial environment. Although Outlook integration is a very compelling feature of CRM, the effort to support such an experience in a trial deployment would have presented significant support challenges given the unknown state of each user's PC/laptop configuration, OS, software, settings, etc.