Right now, it’s nothing too fancy. Naturally you can enjoy the most basic feature of instant messaging when you’re IMing with a Windows Live™ Messenger friend: IMing in text.

Plus, you’ll both have access to a kaleidoscopic selection of emoticons, and will both see each other’s status in your contacts lists. You can even Buzz (or as they say in Windows Live parlance, “Nudge”) your Windows Live friends.

But for now, you can’t send files, nor will Windows Live Messenger users see your avatar or Display Image. These features may appear in the future, but for now they’re only available between Yahoo! Messenger users. Yahoo! Messenger—fun, feature-packed, and free!