Yes, you can do most or all of what you are asking. I just converted a desktop from XP to Windows 7. My mail program originally was Eudora V7.0 and what I did was convert from Eudora to Outlook Express to Wiindows Live Mail. I only had one email account so I did not try that function but I successfully moved all my messages and addresses to WLM.

As I was doing four machines at the same time I also wanted to export and import the message filtering rules but was unable to find out how to do it. If anyone can help it would be appreciated.