The "show as" function is missing. It is extremely helpful to mark your calendar item as: free, busy, away, tentative or working elsewhere.
Thank you for your feedback! The deployment for enabling Show as in a calendar event in the Outlook.com beta is now complete. If you refresh, you should be able to see the experience.
Tommy Ryan commented
In New Outlook experience it is missing the "Show As" filter to show as either "Messages" or "Conversations." I use conversations view all the time and have to toggle out of "new Outlook."