Why don't you use an email client to keep the bold, italics, underline, etc features, like
IncrediMail?
![:)](images/smilies/msn_happy.gif)
Yes, it does support Hotmail, because, I use Hotmail from IncrediMail and it works perfectly
![;)](images/smilies/msn_wink.gif)
It doesnt use POP3 for hotmail, but it connects to the site where the emails are shown, or something like that...