With Outlook Connector, you can use Microsoft® Office Outlook® 2003 or Outlook® 2007 to access and manage your Windows Live Mail or Office Live Mail accounts, including e-mail messages, calendar, tasks, notes, and contacts.
A new beta 2 of the Outlook Connector offering free calendar synchronization
How to Configure:
First download from above location, then install it.
Now Open Outlook 2007, on the configure screen, tick Manually configure..
On this screen type you Live ID and Password and click OK.
Now you able to get your mails from your Live Account.
One more thing, with Microsoft Office Outlook Connector, you can sync multiple Live Account,
Go to Outlook Connector tab to add more Live Account.
Click on Add a New Account to add any other Live Account,
My own Outlook 2007 with My 2 Live Account.