There's also no Gmail chat function integrated, at least not in the "limited preview" beta period. Aol says those features are coming and that the team wanted to focus on the "core email experience" for now.
Of course, like the other webmail services, Aol plans to make some money off of the service. While there will be a base free offering, Aol says it is exploring a paid service option for aggregation of more than two accounts and other premium services. It says there won't be typical display advertising as there is in Gmail, but it might place advertisements at some point around your retail stack.
If it sounds appealing or you're just getting sick of your current email interface, it might be worth a try. You can sign up today for an invite to Alto Mail at altomail.com. Oh -- and no, you won't get the "You've got mail!" chime when you sign in.