Hi Dennis Widmark - answers to your Qs:
- What is the difference between SharePoint Lists and Microsoft Lists? MK: None - they are the same. Microsoft Lists is an evolution of SharePoint lists. This companion blog should help.
- Will Microsoft Lists be visible on a SharePoint Site? MK: Yes. See above companion blog that has a graphic of a list in SharePoint once updated.
- Can the information from a Microsoft List be imported to Excel Query in the same way as a SharePoint List? MK: Yes. 'How to' here.
- Can an existing SharePoint List be converted to a Microsoft List when it gets available? MK: Yes, and you won't have to do anything. We, too, will continue to support classic lists for an LoB/legacy apps built on a classic list; more about classic here.
You don't need to wait. What you design and plan now will carry over, as it's the same product getting updates and new end points, like Lists home, Lists mobile app, updated experiences in Teams, etc.. for example, the coming Lists home will show all your lists, existing and new.
Hope that helps, Mark