Windows Live development provides a collection of services for building rich web applications.
Photos, Video, Contacts, Maps, Search, Authentication. Here's a link to map of the services http://dev.live.com/img/wlp-mix.pdf.

With these new services, developers will be able to quickly build applications focusing on the app and not the infrastructure.

I'm still working on my silverlight streaming application that will allow for demonstrations of MS CRM Live. I'll post a link once it's complete to give you an idea of the types of things you can do with SilverLight Streaming.