End of Service is March 2011, and you can backup your stuff (good – thank you, much better than what happened with Communities) and you can move it to WordPress – Sweet – Way better…
So if you are an existing Microsoft Live Spaces user and have stuff you want to preserve and/or migrate – get’er done soon.
Mine is now moved and http://dgrigsby.spaces.live.com will redirect to http://dwgrigsby.wordpress.com. So I am now a WordPress user — guess it is about time 
Now I can backup the WP and move it to a WP on one of my hosters as well and have some additional fun in my spare time …
Whoot! – Thanks Microsoft for making me a WordPress User…. I guess there wasn’t an IIS / ASP.NET platform that was freely hosted to go too… 
aka DotNetNuke, etc….. (did I miss something about a “bolt down” application on a Windows hosted Platform) Naw, won’t effect revenue showing everyone how easy it is to move from Microsoft to WordPress..
Just another sad end in a long list of Microsoft also ran competes… At least the “user experience” was a good one, and the MSN live Spaces expenses drain on Stockholders will be done March 2011.
I would have to say that is a “graceful” loss – Well Done.