Windows Live SkyDrive (previously Windows
Live Folders) is part of Microsoft's Windows Live range of services.
SkyDrive allow users to upload their files to the computing
cloud, and then access them
from a web browser. The SkyDrive service utilizes Windows Live ID to limit access
to the files the user has uploaded, allowing them to keep the files
private, share with contacts, or make the files public.
Publicly-shared files do not require a Windows Live ID to
access.
The service currently offers 5GB, with a maximum upload file
size of 50MB. Optionally, an ActiveX tool can be installed
to allow drag-and-drop uploading from Windows Explorer. Up to five
files can be uploaded each time if that ActiveX tool has not been
installed
From Wiki.
Personal opinions:
Anyways, it's quite cool, as there are 3 parts to it:
Personal,
Friends, Public . In personal, no one except you could access
it, this makes it kinda cool in a sense that you can backup some
personal stuffs online, or if u are switching your computer,
backsome data up from there and then retrive it later. For friends, if u have a new album, you
can drag and
drop the entire album to share. Finally
for public - which means any
tom, dick, harry could access and download it.
DO note that the upload limit for one time is 50mb,
thus if u have a 1gb file, u might have to split it into like 20
parts.
Screenshots from http://www.uwe.ac.uk/its/uwelive/help/skydrive.shtml

The interface.

You can create/ rename your own folders.

Upload like other filesharing sites.

or drag and drop which requires to install the ActiveX control,
your operating system must have Microsoft Windows 2000, Windows XP
Service Pack 2, Windows Vista, Windows Server 2003, or Microsoft
Windows 2000 Service Pack 3.
To install the ActiveX control, your browser must be Microsoft
Internet Explorer 6, or later.

Drag and drop..