The new SkyDrive application was released today.  I was part of the beta test group and I can tell you the new application is great.  When it is installed it creates a folder named SkyDrive in your profile that synchronizes automatically to your cloud-based SkyDrive.  That is it.  Now you can seamlessly work on local files that will automatically sync to your cloud based storage.  If you have a Windows Phone there is a SkyDrive app for the phone that makes accessing your cloud storage easy and fast.

More details can be found in the links below.

Introducing the new SkyDrive
http://windows.microsoft.com/en-US/skydrive/home 

Making personal cloud storage for Windows available anywhere, with the new SkyDrive
http://blogs.msdn.com/b/b8/archive/2012/04/23/the-next-chapter-for-skydrive-personal-cloud-storage-for-windows-available-anywhere.aspx