UPDATE: Microsoft Office 365 and Azure services now seem to be fully restored. Microsoft has contacted Computing with the following, rather glib, comment attributed to "a Microsoft spokesperson"...
Improvements include faster launches, lower power consumption and a 7x7 grid view of call participants
But the next versions of SharePoint Server, Exchange Server, Project Server and Skype for Business Server are subscription-only
Microsoft 365 will add new cloud-based features to Office 365 Personal and Home subscribers
Testing restricted to those with G Suite organisation accounts