Jake,
In Entourage 2001, go to Tools > Accounts > New Account.
Setup a new account with all the settings info for your existing
hotmail account, including ID and Password.
Select show Inbox in Ent's Folder List.
Then go to Tools > Schedules.
Open the Startup Schedule and add info about your Hotmail account.
Now, whenever your Entourage starts up, it will automatically receive
and send to that Hotmail account.
After the first time Entourage connects with Hotmail, you see a folder
structure for that Hotmail account (including an inbox) in the Folder
List (lefthand pane).
At least this is how it works in Ent 2001.
-PSMacintosh