Outlook Connector for Hotmail BETA
The Outlook Connector beta allows those who use Outlook 2003 or Outlook 2007 to manage their Windows Live Hotmail e-mail, e-mail folders and contacts right from within Outlook for free. This was previously available as a subscription service ($19.95 a year), but is now being offered more broadly, and for free.
You can take advantage of the rich capabilities that Outlook offers even when offline. Outlook Connector also provides the ability to use advanced contact management features in Outlook to manage your Windows Live Hotmail information like the new Business Card View, Instant Search, and the ability to sort contacts by criteria like location or category. Additionally, any changes made to contact information in Outlook will automatically synchronize with the web version in their Windows Live Hotmail account.
Outlook Connector beta download URL
So get your hotmail mails on your machine even when you are offline.
Another outstanding product in this category is Windows Live Mail that let's you sync Hotmail mails too.