I recently saw the announcement that Hotmail now supports POP access. Awesome news, as logging into the web version is a pain on a mobile phone. I grabbed my phone, and gave it a go:

After entering my Hotmail information, I got a nasty surprise:
Windows Mobile is smart enough to recognize the "Hotmail.com" extension and redirect you to their web interface. How helpful!
So, you are forced to do what you often have to do when someone walls you off with BS: you have to lie to them.
Here we have gotten extra sneaky and renamed Hotmail to hotmail2 - don't worry - this isn't actually used for anything.
Upon entering our new email address, we are through the gates:
Windows Mobile will offer to try to hunt down your settings for you, but since we have them in hand (see first link on this page), and since we gave them a bogus account, we will pass on this offer.
Next we specify this account as an Internet email provider

After that, we provide a couple names. These are for display purposes only:
Now we start entering useful settings for the POP account:
And finally, we can be truthful about our Hotmail account:
Finally, we set up our outgoing server:
And we are done:
Click Finish to tidy it all up, but you now have POP3 access to Hotmail from your Windows Mobile Phone.