Mesh has everything you listed plus:
-No dedicated folder on the system, any folder can be turned into a Mesh folder simply by right clicking the folder and saying add to Mesh.
-Streaming from the web interface. MP3s and most video files will stream right on your Live Desktop.
-5 GB base storage, currently no additional storage available but that is likely to change once out of beta. MS isn't going to charge for a beta product. (at least not one still called beta)
-Application sync is already functional, allowing .Net apps to be converted to run on the Live Desktop and sync to multiple PCs
That's what it currently has. Let's not forget that it won't leave beta until the Mac AND Linux clients are done, as well as WinMo at the very least, likely will have clients for most popular smart phones. At least that's the goal.
Mesh also runs on top of Azure, which is an incredibly robust cloud architecture. What does the Ubuntu storage service run on?
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