This page only references technologies and projects that have been publicly announced
Microsoft is building data centers galore to support the shift to Software + Services. Nicholas Carr is keeping track: Microsoft extends data center buildout to Siberia (Nov 07)
Synchronisation platform enabling collaboration and offline for applications, services and devices (published on MSDN).
Comment - being superseded by Live Mesh. To be updated...
An experimental search front-end, gathers different types of results (e.g. web sites, images, books) that you can store on your 'shelf' and share. Tafiti is Silverlight-dependent (i.e. you'll need to download it to run - 1.4Mb)
Mashups are breaking the mold at Microsoft - NYT article (Feb 2008) about the PopFly team
Creating three-dimensional spaces by stitching together similar photos (from MS Live Labs). For a great demonstration, view the TED Talk - Jaw-dropping Photosynth Demo
Maps and geographical information available online, including web services (think MapPoint) for integration in applications. Microsoft Team Blog on Live Spaces