I have a personal domain configured as a Microsoft account. I can use Outlook.com with it instead of a @outlook address.
This account is the only I have for everything since consolidating my subscriptions, newsletter, site logins and whatnot. It was a PITA to move everything to it but in the end it was more than worthy. Now I use it in Windows Phone, Windows 8.1, Xbox, an HTC One and a Nexus 7.
My main phone is an HTC One and I can use mail, calendar and contacts with it as it supports Exchange, just as with the majority of Android devices. I prefer the native Sense email client over the Outlook app but you can use it as well. This account is set as the default for Contacts as well and it works as expected. The Outlook app can sync calendar and contacts, but I haven't needed to try that. I also have real push notifications for mail as it is Exchange.
For calendar subscriptions on my Microsoft account, I couldn't get the calendar apps to read my subscribed calendars. They only read the default calendar in my account (I only have one calendar, so I don't if they can read more). For this I have to make the only workaround on my setup which was to add my subscribed calendars to my Google account. I only need those to be read only (sporst team schedules and festivities) so the native app or Google Calendar work very well. The default calendar which I use for personal and work stuff can be synched without problems.
I don't have much experience but I think you should be able to use a Microsoft account with their mail app and other clients just by setting up as IMAP, which is now supported by Outlook.com. Calendar and Contacts could be used with an Outlook app for iOS.
You can use Outlook full set of features, like aliases, etc. with a personal domain.
Just my two cents. If you are thinking to go with a personal domain (or consolidate your stuff into an existing Microsoft account) I can't recommend Outlook.com enough. The problem with Google accounts is that they are stubborn about supporting Windows Phone and Windows 8.1.
PS: You can import your Gmail mails and use that address as an alias. That would aid you when doing the migration of your stuff.
PS2: Sorry for the long post.