Mary Jo Foley has the story on a  new Windows Live Toolkit from Microsoft.  This release is just a CTP but you can expect Microsoft to push this into production fairly quickly.  For the most part the article is just the standard "Microsoft is releasing X" article but one part did interest me...

When Microsoft first shared its plans for the Windows Live toolkit in September, officials said to expect the new add-ons to work a lot like the Facebook Developer Toolkit that Microsoft announced in May 2007, given that the new Visual Studio Toolkit for Windows Live was being developed by Microsoft’s Doug Handler, who did a lot of the work on the Facebook toolkit.  

Microsoft has always been a better competitor than they are an innovator but this may very well be the one arena where it isn't quite appropriate.  Say what you will about the "thousands of Facebook developers" out there it's still a miniscule number when compared to Microsoft Developers and Micrsoft still has far more experience in dealing with developers.  Don't get me wrong, I suspect this is just good PR ("hey Facebook developers, we're cool too!") but if it isn't Microsoft should really reevaluate their priorities.