Thanks for the suggestions mikefxd & riteshritesh
I've always gone through these steps with iCloud, because when it works, it appears the most transparent, seamless integration across my devices. Of course all my standard iCloud data is synced (Contacts, Calendars, Bookmarks, Notes, Photos, Reminders, etc.) with very little, if any delay, my e-mail is the same no matter what device I'm on, including flags (though colors aren't available on iOS), marked as read/unread, replied/forwarded, deleted, archived, etc. Previously this was not the case with IMAP solutions, and my prior experiments with Exchange proved less than reliable, creating a lot of unnecessary clutter (extra mail folders, address books, etc.). Mind you it's been a few years since I've tried Exchange, but do you find it's pretty transparent and doesn't create any issues? Do all the mail designators (read/unread, flags, forward/reply, etc.) sync? Do the Archive buttons work? Are there fields for all the different data? (I recall from my old Outlook days having to give up on Calendar Categories when I switched to Mac and there being other annoying discrepencies between field data in a lot of equivalent applications).
I'm fairly naive when it comes to Exchange and I understand that it has been supported for some time on OS and iOS, I just stayed with iCloud because it felt the most integrated. Not to mention I read a lot about Exchange problems depending on how your Exchange server was set up, and I know I ran into tons of issues with IMAP based on the protocol my hosts were implementing.
I've been a long time user of Hotmail, since before the MS days, so I'm happy to give Outlook.com a try. One would hope they'd have a solid Exchange setup in place and it would play well with iOS and OS. I guess the easiest way to experiment and see if it works for me would be to temporarily disable forwarding on my Hotmail account and set it up on my devices as Exchange. If that works out for me and I like the functionality, then I can migrate my 2 domains over. I see a few tutorials on how to do this online. I'd certainly like to A) Not be limited by iCloud's 5GB free limit, and B) Not have to pay for Business Class e-mail with Godaddy (set to expire in about 5 months) which I found more reliable than their free options included with their domains.
Of course I bet the moment I transfer over, MS will drop this free service like Google did.