The Hotmail team announced of rolling out worldwide, the latest Wave 3 update of Windows Live Hotmail. Here are the new features coming in this update:

• More storage in Hotmail. Start with 5 GB, and watch your storage grow, as you need it.
• More themes in Hotmail (including some that change based on time of day or weather)
• The top banner ad moved to the side. So you can see more messages
• Quickly add maps, directions, movie times and more to e-mail messages. It makes planning a night out so much easier. (UK and US-only, for the moment)
• See “what’s new” updates from people in your network on Hotmail’s Today page. 
• Get Hotmail on your mobile phone’s e-mail program. POP3 access is becoming available to Hotmail users in the US and Brazil, in addition to United Kingdom, Canada, Australia, France, Japan, Spain, Germany, Italy, and the Netherlands.
• Create e-mail signatures in HTML. Get as fancy as you want to be.
• The People page has been re-organized.