Choose "Custom" to only install the bits you want
Stay in touch with the people you care about most from your PC, phone, or the web. Share photos and videos as you chat, and see the latest updates from your friends. Learn more
Get great tools for organizing, touching up, and sharing your photos and videos. Create stunning panoramas, movies, and slide shows, and publish them online. Learn more
Turn your photos and videos into polished movies that are easy to share. Add special effects, transitions, sound, and captions to help tell your story in style. Learn more
Efficiently manage multiple email accounts, calendars, and your contacts—even when you're offline. Plus, use a great tool for sharing lots of photos in email without filling up anyone's inbox. Learn more
Also included in Windows Live Essentials
Blog like a pro, adding photos, videos, maps, and more.
Parental controls to help parents keep their children safe online.
Windows Live Mesh
Access and synchronize photos, documents, and other files on all your computers.
See and comment on links your friends have shared as you visit websites in Internet Explorer.
Get search results from Bing without leaving the website you're on.
Outlook Connector Pack
Includes Microsoft Outlook Hotmail Connector and Outlook Social Connector Provider for Messenger.
Access rich, interactive websites using the Silverlight browser plug-in."
Mesh is ok for online backups - and gives you 5GB of synced space, tho I prefer Dropbox
The Photo Gallery is also not bad, if you need a photo organiser