Yahoo has released a beta version of Yahoo! 360. BTW, if you haven't had a chance to check out Yahoo! 360, I still have about 50 invites to give out, so leave your name and email id in the comments and I will send one your way.
About Yahoo! 360 – It is more of a social networking tool, allowing you to connect with other people who have 360 accounts, receiving messages from them, seeing their lists of favorites and stuff like that. There is a mailbox, but, currently, it pulls messages from your 360 friends only.
In addition to providing a blog, Yahoo!360 also allows you to share photos and music, as well as local reviews and lists of favorites :)