, TexasToast wrote

For example:  Using JoeBlow@hotmail.com but now want to have JosephBlow@live.com as the new email/live id.     I want to close out JoeBlow@hotmail.com and have its data moved to JosephBlow@live.com.    On the windows phone I understand I would factory reset it and then use the new id.   I don't want to lose data and I see no easy way to do this.

You can rename. It may break stuff though Smiley

1. Sign in here.  
2. On the Account Summary page, click Change next to your Windows Live ID.
3. Enter your password.
4. Select Use a new Windows Live e-mail address.
   – or - 
   Select Use your own e-mail address.
5. Enter the Windows Live ID or e-mail address you'd like to use, and then click Check Availability. If the name you choose is available, you see a message that confirms availability.
6. If you've previously never agreed to the Windows Live Service Agreement or the Privacy Statement, you'll be prompted to do so. Read both agreements and select I accept. Otherwise, Click Save.