Having just changed to IMAP, I can confirm that everything you send and receive will be in the "All mail" folder, although in my so far limited experience, not in the "Inbox" folder in Local Folders, which is where I think you want them. Remember that if you change to IMAP, you have to configure every email address you have with Sky in Mail settings as well as in Outlook or Outlook Express. Also consider using mail.skyusermail.com for your smtp settings so that messages sent from a particular address look as if they come from that address and not your Sky master address. Of no consequence if you have only one Sky email address.

The beauty of IMAP is that it synchronises evertything if you use more than one pc or laptop. I am currently on a beach in Barbados and have access to all my emails through OE without having to log on to webmail.

Hope this helps