I was using MSN Messenger 7 Beta for quite sometime and found it acceptable. Yesterday Microsoft released the final version of his Instant Messenger. you can download it from http://messenger.msn.com.
MS claims that it has better Audio/Video quality. My previous experience with MSN audio was pretty good but video was not. They seem to integrate it with MSN Spaces now. So when you click your icon on top (see below) it shows you the last blog entries from your 'space'.
As for MSN Spaces, I have not noticed any additional functionality on top of 'Beta' version. I still can not reclaim the space I had deleted. I have yet to hear from 'MSN spaces support' why..