Conversion rate is lower than Google (like that is news) but not a bad stream of new eyeballs and buyers.
From my perspective, MSN seems to bounce rankings around by as many as 10 positions in the top 20 for a given phrase, and this is in between updates. I noticed major moves up for a couple of my sites when this topic was first posted, and I am seeing the effects on some phrases and not others. I am still trying to figure out the weighting system...
As for MSFT dumping a lot of money into moving their market share in search up, I hope it makes EVERYONE innovate, not just on the search side, but allowing us SEOs and Web Advertisers to do more with less and do so without being intrusive on the audience. More advanced metrics and research would get my attention too.