The MSN Spaces beta version is a free service available in 14 languages and 26 markets worldwide. MSN Spaces was designed to make it easy for consumers to create and maintain a personal Web site, bringing the power and benefits of blogging to millions of Internet users, regardless of their level of technical expertise. More than a blogging tool, MSN Spaces is a dynamic online scrapbook where consumers can share photo albums, personal music lists and more. And more than an ordinary personal Web site, through seamless integration with MSN Messenger and MSN Hotmail, MSN Spaces will automatically notify online contacts when a person's Space has been updated so his or her online community knows when it is time to pay a visit. People can sign up for MSN Spaces through MSN Messenger or by going to http://spaces.msn.com.
I am not very impressed with this for following reasons
Very small interface
MSN Style design which was done for MSN Browser
Space problem to adjust things here and there.
will list out more on +ve and -ve things after playing more with it.