Must have just come through as a Windows 7 update - but all of a sudden I have this:

When I created a file in it I had to log in to my Windows Live account and it was good to go.
I guess it will be interesting to see how this goes compared to DropBox and Google Drive. The obvious advantage Microsoft has is that they can just drop this on you with an update - fully integrated, ready to go. That seems like quite an advantage to me.
If I log in to to SkyDrive online it looks like this. And yeah, hardware, it's in German, leave me alone.

I guess what's interesting is that because the test.docx is Microsoft Office doc you would expect to be able to click on it and edit it - which I did. Seems pretty good. No more feature enhanced than Google Docs though really, which is my preferred solution currently.