Finally. Microsoft Hotmail has allowed proper calendar and email sync on other platforms by enabling Exchange like functions. You can read it here. The settings below (set it up like Exchange):
Field Setting Server / URL: m.hotmail.com
Username: Enter full email address, for example: email@example.com
Domain: Leave this blank
SSL: Enable this
Certificate: Accept the SSL certificate when prompted
Mail, Contacts, Calendar, Tasks: All can be enabled (see the Solution Center article for exceptions on some phones)
I have been spending a lot of time playing with Android over the last month. Amazing OS, more on that soon.