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The process only takes a few minutes on a fast broadband or corporate Internet connection.
Once you sign in to Lync for the first time, you have no access to your Global Address List, unfortunately. However, it's important to remember that the service is still in beta and is yet to be finalised. Nevertheless, you can still add your corporate contacts by typing in their email address and adding them manually.
The first time you log into the Outlook Web App, the cloud-based application which manages your email through Exchange Online, it will ask you to configure some basic settings like the timezone and whether you require the low-resolution experience.
Note: to see Outlook Web App (Release 5) in action, head over to this screenshot gallery. The screenshots are exactly the same.