I haven’t used a Hotmail account for years, so i’m not quite sure what you mean by this. Set up another account where? In Hotmail?
AFAIK, for Gmail you just sign up for a Gmail account at Google. I wasn’t aware that there was any connection between Gmail and Hotmail, although i could be wrong about that.
I use my Gmail account essentially as an email storage account. I copy all my incoming and outgoing mail to it, giving me a complete online archive of all my mail, whenever i need it.
Perhaps the greatest thing about Gmail, especially for people who have put up with less efficient systems in the past, is the brilliance of its search capabilities. Of course, given Google’s genesis as a search engine, this isn’t too surprising, but it really is amazing at how good Gmail is at finding emails. The number of emails in my account is well into 5 figures, and finding a vaguely-remembered email from six years ago takes only a matter of seconds in Gmail.
Gmail does a bit of getting used to, because there are no folders, only labels. You can label emails and conversations to make them even easier to find. The absence of folders is sometimes a bit offputting to people who are used to arranging their correspondence in folders, but you get used to it pretty quickly.