[quote name='hiccupleftovers']This seems similar to what google has already with blooger, except that this goes through .microsoft.com[/QUOTE]
no, you'll get your own top level domain, registered with melbourneit. like someone else said, the catch is that they only pay the registration fees until you cancel it, then it becomes your problem. the credit card is for verification, or for payment for the higher-end services.