This is NOT a new competitor to MSN Video. Microsoft Video is NOT a video-sharing site. This site contains only videos directly from Microsoft and it’s partners. Videos like tutorials, ads, product info., etc.
The site, as of now, doesn’t really have any advanced nifty features. Title, description, rating, e-mail button, Digg button, embed link, and visual link to the site of what’s being mentioned in the video. The player itself is also pretty simple. Hover over it, and controls similar to WMP 11 come up.
So it’s pretty watered down from the MSN Video site. Search for something, and you’re directed to a separate search results page with the player not being stationary. Comments and ratings don’t work yet, and like many other MS sites, it’s pretty dull.