This promo video is not just an advertise. It shows us a lot more. In my opinion, everything seems very nice. Take a look at all the animations. Don't you think that they look great? If you pay more attention when watching this video, you will see that in a slight moment it looks like Windows Phone 7 is synchronized with desktop via Wireless connection, but you can't explicitly say what kind of material is synced.
I'm not gonna keep you waiting. Here is the video: