Move over, MySpace, your time has come. Or at least, that's what Microsoft seems to be going for, with their launching of Windows Live Spaces. An upgrade to the existing MSN Spaces community, “Windows Live Spaces” will introduce more utilities and better privacy, among other things. They are definitely cheery about it:

“With the release of products such as Windows Live Spaces, we continue to deliver on our mission of bringing customers closer to the information and people that matter to them most. Windows Live and Internet-based ad-funded software and service are critical to driving growth for the company, and we are energized about the continued investments we’re making to help provide consumers with a seamless and safer online experience,” said Steve Berkowitz, senior vice president of the Online Services Group at Microsoft.
Of course, not even Microsoft's size and prowess will let them oust the biggest online communities available. That's hopefully not their goal, and with the types of services they provide it doesn't seem to be. It seems on the surface to be a continuation of one of Microsoft's goals to make any computing experience “seamless”. Maybe they mean bland, but maybe not.