500 odd emails is not SPAM its an email bombing. Trying to jam up your account so no real mail can get in.

A friend was getting a 500Kb mail from some one till it reached his 5Mb limit. Long time to download on 56K.

Block the sender and contact hotmail. Or look at the full msg header and trace the IP's at
http://www.telstra.net.au/cgi-bin/trace

Anti spam sites
http://www.caube.org.au/

Good stuff on MS Media player tracking you
http://www.junkbusters.com/