The first phones with Windows Mobile 7 will go on sale in 2009 but already now you can learn (almost) everything about it (including hint that it will support multi-touch!):
Windows Mobile 7 will use touch gestures, similar to how the iPhone does. You will be able to flick through lists, pan, swipe sideway, draw on the screen. A lot of emphasis has been put on making navigation easier and doing away with scrollbars, including a new scroll handle that allows for multiple ways of finding items extremely fast.
Windows Mobile 7 will use motion gestures, something the iPhone does not. It will not use an intricate and complicated series of gyroscopes and accelerometers. Instead, it will use the camera on the phone to detect motions and create appropriate actions. You will be able to shake, twist and otherwise manipulate the phone and get things done. The phone will be able to perform actions when placed face down on a surface, and it will know when it is in your pocket or bag.
To learn more, including screenshots and detailed description of the Windows Mobile 7, click HERE.

Sources:
microsoft.blognewschannel.com
msmobiles.com

Taimur Asad (The Microsoft "Wow" Blog!)