Windows Live Wave 3 includes new movie maker, writer, messenger
Windows Live Wave 3 includes new beta versions of Windows Live Messenger, Toolbar, Mail, Photo Gallery, Writer, and Family Safety. Windows Live Movie Maker has been included in the Windows Live suite for the first time as well, although I discovered that Movie Maker Beta is only available for Windows Vista. If you try running the installer using Windows XP, Movie Maker doesn't show up as an option.
The new applications feature a number of changes. First, the user interface has changed a bit. All of the applications have a lighter, brighter color scheme than their predecessors. Windows Live Writer Beta includes a new tool that lets you post videos to YouTube directly from the blog editing client. There's a new calendar in the Windows Live Mail Beta application.
Windows Live Movie Maker appears to be a stripped down, easier to use version of Windows Vista Movie Maker. It lacks a timeline and audio editing features, doesn't allow you to crop or edit clips, and lacks the ability to place text overlays on a video. In other words, if the old Windows Movie Maker is like Final Cut for dummies, Windows Live Movie Maker is Movie Maker for dummies. I'm not entirely clear on why Microsoft even bothered with this program.