I bumped into Irwin Dolobowsky a few weeks ago and he told me that he now worked on Windows Live Favorites.
Irwin used to work on the XML team at Microsoft with me and in fact he
took over http://msdn.microsoft.com/xml
when I left the team last
year. I'm glad to see that I'll be working closely with a couple more
familiar faces.
Yesterday he let me know that they've started a team blog at http://spaces.msn.com/members/livefavorites.
He's already started addressing some of the feedback from their early adopters such as his post on the Number of Favorites Limit. Check it out.