Microsoft are going to rollout a bunch of new features to their 365 million or so users over the upcoming weeks. These new features include two-way e-mail, contact and calendar syncing, a bunch of update to Hotmail's web interface and also, an Android app. The new interface will allow you to automatically categorize incoming mail as newsletters, and then either trash them or sweep them to a folder.
There's now an "Unsubscribe" feature that also lets you do just that, with Hotmail handling the work of blocking future newsletters from that sender as well as asking that company to stop spamming you. Flagged messages will not sit at the top of the inbox so that they don't get lost in your sea or incoming mail. You can also set Hotmail to automatically flag messages with a particular subject line, from a certain sender, etc.
"Scheduled Cleanup" automatically deletes messages after a certain number of days past, while other updates include the ability to manage and edit folders and apply categories to individual emails - all inline. Instant Actions is also featured, which brings up options such as "delete" and "flag" when you hover your mouse cursor over them.