I noticed in my inbox this morning that MS have just done a major 'relaunch' of the Windows Live product portfolio.
It surprises me how few people take advantage of the functionality being offered under the Live family but I think that's because most of the time MS are crap marketers and make it too complicated how they all join together.
They seem to have cleared all this up so maybe it's time to check out www.WindowsLive.com again.
I highly recommend Live Favorites, Form Fill and Skydrive. I also use mobile favorites extensively but this is more an aspect of IE rather than the Live services.
You might like to check out this page for a quick overview http://www.windowslive.com/Experience
Unfortunately they still haven't released a mobile version of http://my.live.com which is their rss reader/desktop widget application (i only use it as my rss reader), there were rumours of a mobile version coming....