I was excited from day one of Live.com beta launch for creating an email account @live.com but it was not possible before. Today I came to know that Microsoft has finally allowed people to create email account on live.com few weeks ago. Visit http://get.live.com/getlive/overview to signup for your new account.
Another new features allows you link a main Windows Live account with other Hotmail/MSN/Live email accounts and use a single login to access / switch between all of your accounts. At the top of the page, next to your email address, there’s an arrow that shows a list of your linked accounts when you click it.