Two things:
1) There's no need to "bump" a message twice in the span of a minute.
2) If you're getting that error message that means a few things:
a) the port is correct
b) CF is communicating correctly with the "MSN Live" server
c) From the brief Google searches that I did ("Hotmail POP3", "MSN
POP3") I found the following:
http://mailcall.spaces.live.com/Blog/cns!CC9301187A51FE33!44348.entry
The most telling thing is this line:
"PS - please note that I said Hotmail Plus users and not MSN Premium
users. We are working to offer everyone POP access eventually, but for
now, Hotmail Plus users are the only ones that can do so."
Try accessing the email from Outlook or some other client and see if
you can. If that works then there's a problem with your code,
otherwise you may be out of luck for a while.
Hatton