Miscrosoft Live Search is now Bing. Microsoft calls it a "Decision Engine" rather than " a "Search Engine".
After all much expectation, bing is no big thread for google.
Bing instead of doing search, helps the users to make a decision based on the recent searches.
Bing Still is coming behind Google when talking of Search results. The Search result are not better than google, even some results that appear in Google does not appear in bing.
The Main advantage of Bing is the Page Design. The Home page is very simple. And the number of Ads is very low when compared to Google which has more Sponsored Links.
Till now the only reason to move to bing is to have a non-congested Web Interface.