I've found that after doing a restore, the messages stop downloading and my Microsoft account in "Settings -> Email+Accounts" shows "Not up to date." If I tap that error, I get a detailed message that says:
"We're having a problem syncing bay403-m.hotmail.com at the moment. Wait a little while, then try again.
Last tried about XX minutes ago
Error code: 86000C0A"
Despite the message that I must wait, if I long press on the account and tap sync, it will then start pulling down more messages immediately. It will eventually stop syncing and I will have to repeat the process until all the messages have been downloaded.