It does look great from the preview...but I hate the name so much... it's just stupid.
I understand the purpose of 'rebranding', but the design (logo, not the layout, I love that) and name...it's like they're trying to hide that it's Microsoft.
And, agree or not, I think it should still have the MS or Windows logo.
But, then again, I love the Windows Vista/7 orb. =P
In my opinion, keep the current live logo (the white Vista orb...or maybe make it into a white 7 orb) and find a better name then 'Live', and a WAY better name then 'bing'.
But all in all, make it known that it's still a Microsoft thing.