If you are sysadmin assign some other user you wish (or default dbo), the ownership of schema by checking owned schema checkbox of that particular schema for that particular user...

Veterans correct me if i'm wrong

For full Recovery mode:

Truncation and freeing space are not two different issues as such, as you assumed. Truncations reduces the size of logical log file....

I am a newbie too....veterans guide me if i'm wrong

Grant 'ALTER ANY' message type to the user and your user will then be able to create, alter or drop message...

use

server name: smtp.live.com

port number: 587

check requires SSL checkbox

and use basic authentication giving your hotmail username and pswd

hope this works....