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Frankly, I think that this is just hotmail by another name. Considering that hotmail is synonymous with spam to many people there is value in that alone. There are a couple of noticeable things that are different from hotmail. It looks smoother, in fact the interface is more like gmail. It also integrates with social networking sites like twitter and facebook, something that is much like gmail does with Google plus; it also happens to be one of the feature I like least about gmail because I tend to compartmentalize things and don't like to jump through hoops to do it.
I would consider outlook.com a rebranding of hotmail with a moderate refresh thrown in. I think it is an improvement, but it's still not superior to gmail, from what I've seen. I don't see any reason that I would use it. Let's face it, gmail pretty much sets the standard for free webmail.