Microsoft has now opened sign-ups for the much awaited @live.com e-mail address. Most of the e-mail addresses you want will still be available, but you will not be able to sign-up now. Because as with all new things by Microsoft, the sign-up process is showing an error now. 
So keep looking at the error, until Microsoft repairs the bug. 
Nirmal
19 Nov 07 at 5:42 pm
I too got the same error, looks like MS have not fixed it.
Manas
19 Nov 07 at 6:24 pm
Yeah, they have not fixed that damn error till now…
Wonder when will they fix it.. When people give up the idea of going for a .live e-mail id ?