I commented on the SMS feature as that is the one i have used so far. There is a whole heap more to this integration. I can display my phone screen on my computer and adjust phone settings etc directly from my desktop. Move files in and out of both devices with ease. Includes Outlook integration (I don't use outlook, but it is there). I can drag a photo from my phone straight into photoshop on my laptop.

I think as this co-operation between M$ and S$ expands the ease of workflow will be of benefit to many. Especially those who use outlook for business and are on the go.