Yeah so I've always been a hotmail user so that helps. I was wondering, my Xbox live account goes by a different email than my normal email address, will that cause an issue on the WP8? Will it allow the 2 difference emails?
I would HIGHLY suggest switching your Xbox Gamertag over to the microsoft account you are going to use for your phone, or you will not be able to use any of the gaming related aspects on the phone with that account. Microsoft has a 30 day policy for any changes to the Xbox account, so you can get stuck and not be able to change the account for months (ran into this problem last November and, due to a new Xbox and Windows 8 pc's, was not able to get it working properly until April). If you end up using a different email address than your gamertag is associated with, you will not be able to integrate your Xbox with ANY of the phone apps (No Xbox Music, Smartglass, etc). It will all work on the phone, just will not integrate with the Xbox.
I would also suggest upgrading your hotmail to outlook.com, it's pretty easy to do and all the emails to your hotmail will still go through. I converted from gmail and now have everything auto forwarded. PM me with any questions, I'm happy to help so it doesnt take you months to get everything in working order.
I can't stress enough, consolidate all of you accounts before you use the phone for the first time.