I guess it’s better late than never. Microsoft just released the official Hotmail app, and they loaded it with features:

• With push email get messages on your phone without delay
• Synced calendar and contacts
• View your folders in Hotmail, including sub folders
• Send pictures from your phone using Hotmail
• Supports multiple Hotmail accounts
• Send, receive and view attachments

Android Market Link

Microsoft delivers official Hotmail app to Android Market