I have talked about Windows Live FolderShare in the past and have always really liked what it offers. As part of the new Windows Live Wave 3 release, although not an official part of the release yet, is the fact that FolderShare is being renamed and rebranded as Windows Live Sync.
As I said, its not part of the beta releases today, but you can download the beta if you want an early look. This is looks like it is still an early beta, so a lot of features don’t appear to be working and I can’t get it to connect through the firewall at work like FolderShare could. Still, it looks like there is a lot of promise.