Microsoft has hired designers to create ideas for the next generation of MSN and Microsoft.com. Catch a sneak peek of their ideas here. Included are ideas for a re-branded MSN logo.
Source: Elise Wade
See Stephen Chapman's report: Microsoft planning major overhauls for MSN and Microsoft.comRefreshed MSN Video site. (It closely resembles the current MSN Video site, but the differences are easily spotted.)
Source: Steve Boulton
Silverlight-based microsoft.com
Bonus: Various MSN Logo Ideas