Thanks to SidVicious for posting this in BPN.
Windows Live OneCare includes antivirus, antispyware, two-way firewall and anti-phishing technology for all your security needs. It regularly defragments and cleans your hard disk drive, and also offers backup and restore functions. Development and test work is complete for the next major release of OneCare and will be available, in store and on the web, at the end of January. Those who have already subscribed will automatically receive the newer version. The new release sports support for Windows Vista while improving XP support, many new language platforms, as well as overall performance improvements - none of which could have been possible without beta testers.
View: Windows Live One Care
News source: Windows Live OneCare Team Blog
Windows Live OneCare includes antivirus, antispyware, two-way firewall and anti-phishing technology for all your security needs. It regularly defragments and cleans your hard disk drive, and also offers backup and restore functions. Development and test work is complete for the next major release of OneCare and will be available, in store and on the web, at the end of January. Those who have already subscribed will automatically receive the newer version. The new release sports support for Windows Vista while improving XP support, many new language platforms, as well as overall performance improvements - none of which could have been possible without beta testers.

Besides, I doubt it comes even remotely close to professional solutions like Kaspersky.
Something to be aware of, though: the hard drive defragmentation function is not yet sufficiently user configurable (apparently Microsoft is working on that); if you have any extremely large drives that you wouldn't want routinely and automatically defragmented, you might not want to install this for the moment as it will use your system resources on a task that essentially can't ever be completed.
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