Till now its not possible to Pin Hotmail shortcut to Windows 7 taskbar but with IE9’s “Pinned Sites” feature you can now pin Hotmail to the taskbar like as any app and start getting email notifications on the desktop.
Pinning Hotmail to Taskbar
Open IE9, visit Hotmail and sign into it with your email and password go to your inbox, drag and drop Hotmail icon onto the taskbar to pin it. After pinning Hotmail, with IE9’s support for jump lists feature you can able to compose a new email or go straight to your calendar or contacts or calendar by right clicking Hotmail pinned icon on the taskbar.
Hotmail with IE9 desktop notifications
From now onwards you don’t need to start Internet Explorer, visit and sign into Hotmail to know new messages in your inbox. All you’ve to do click Hotmail icon on Taskbar or stay signed into Hotmail to let it run in the background, once in a while glance at the icon for new messages. Hotmail icon auto updates it self with the count of new messages if any arrived and disappears after you read that message.