I have the same problem with my hotmail account. My other account (non-Hotmail) is working fine but the Hotmail one doesn't receive any email. I too can send emails from this account with no problem.
I tried all the tricks that I'm aware of (battery pull, registering the device, sending service books, deleting and re-adding the account) but nothing seems to work. Sometimes after I try one of these it does fix the problem for a while but after a few hours it stops receiving emails again.
Is your account still not working properly?