Installing Windows Live Essentials will get you the new versions of Mail, Movie Maker, Photo Gallery and others - great. Unfortunately it also includes other components that may be unnecessary, but if you like to keep a clean system then these can be quickly removed.
If you left the default "Set your search provider" option selected during installation, for instance, Windows Live will install Choice Guard, a tool to set your browser home page and search engine, and prevent other programs from changing them. If this causes problems later, or you just decide you don't need it, then Choice Guard may be removed by clicking Start, typing msiexec /x and pressing [Enter].
Windows Live Essentials also adds an ActiveX Control to help upload your files to Windows Live SkyDrive, as well as the Windows Live Sign-in Assistant, which makes it easier to manage and switch between multiple Windows Live accounts. If you're sure you'll never need either then remove them with the Control Panel "Uninstall a Program" applet.