While surfing over at The Green Button, I discovered classMCE for Exchange Server, classMCE for Hotmail and the classMCE SDK for Media Center 2004.  classMCE for Exchange Server offers an easy way to access your Exchange-based mail from MCE 2004 from a 10' window and remote, and/or a wireless keyboard. 

The SDK also includes a full newsreader sample.  All are downloadable for non-commerical use. Kudos to Guy Barnard - I'll have to take this for a spin.