Personally, I like Yahoo IM better, primarily because of the emoticons (sigh... never thought I'd be one of THOSE people, but the Yahoo ones in particular are quite useful, as well as playful... though I also kind of miss the days of "old-style" emoticons, especially Dave Barry's: http://www.lovedungeon.net/humor/dave/emoticons.html). (Lovedungeon.net??? That's Google's first result???) Another lovely thing about Yahoo is that the messages are in-line with the sender's handle, rather than on a separate line as in MSN--a much better use of screen space. MSN Messenger has come a long ways, though, and the Plus! add-on is nifty (off-line messages is a function I just can't figure out why they haven't added yet into the main program...).
As for Windows Messenger, maybe this is being replaced by Windows Live Messenger and Office Communicator? I thought it was mainly being kept alive until Communicator arrived, and that its overlap with MSN Messenger was just a byproduct of it being released as part of XP.
And regarding MSN vs. "Windows Live" branding--I think the idea here might be that Windows has more of a brand presence than MSN, as well as an association with higher-level functionality than what MSN provides. People might scoff at the idea of an "MSN Office" for example, but perhaps it would receive a better response as "Windows Live Office."
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