Issue: I want a different e-mail account to display to recipient

I'm just subscribed to Outlook Live and using Outlook 2003. I simply
want to configure Outlook 2003 as I have my Outlook Express configured
(ie receipient sees the same "reply to" e-mail address no matter which
e-mail account I use to send the original e-mail). For my POP3
account, I easily configued Outlook 2003 to work using a different
"reply to" address. However, for the Hotmail account (http radio
button) I don't have the same options available to change the "reply
to" address.

Reviewing the help file I found the following: "This feature is not
available when using a Microsoft Exchange Server e-mail account".

Forgive me for being dense, but am I using a Microsoft Exchange Server
when I'm using Hotmail? Does the above message have anything to do
with my problem?

Cutting to the chase: Can I accomplish what I want to do via Outlook
Live/Outlook 2003. I upgraded from Outlook Express to get more
features. I can't believe Microsoft would take a step backwards and
not provide this option available in a lesser (free) product.

Note: There is a tool named Outlook Connector that assists in
configuring Hotmail accounts when used in conjunction with Outlook
Live. I've tried going around Outlook Connector and configuring this
e-mail account manually. If you specify this is a Hotmail account it
does not provide the option to change the "reply to" address. Again, I
have the same setup in Outlook Express and it works perfectly.
Argggghhh!
Thanks in advance for any help.