I use Exchange for all three, and find it easiest to have a separate profile for Internet Mail and Microsoft Network. If you put multiple services in the same profile, sometimes you'll find Exchange attempting to dial in to Microsoft Network to deliver your internet mail if your normal Internet provider is down.
Double-click My Computer, then Control Panel, and double-click the Mail and Fax icon.
This will bring up the profile you have set as your default. If you haven't done anything with profiles,
your default will be "MS Exchange Settings" and you'll see the following:

This profile is set up to use your default Personal Address Book, your Personal Folders (where mail is stored),
and the Microsoft Network. We want a new profile, for Internet Services, so click the Show Profiles button.
This will show you a list of your profiles - probably you will only see "MS Exchange Settings." Press the
Add button. This will bring up the Inbox Setup Wizard, and you'll see a window with all the available
services listed. Check off only the Internet Mail service, so it looks like this:

Click the Next button. You'll need to give your profile a name, I suggest "Internet Mail Settings".
Click the Next button again, and you'll see the following:

Make sure "Modem" is selected, then click the Next button.
Now you need to select which of your Dial-Up Networking connections you want to use
Exchange with. Select the connection you
want, and click the Next button.
You'll now be prompted to enter the name or IP address for the Internet Mail server that you
are using. Get this information from your internet provider; an example is below:

Click the Next button. You'll now be prompted for how you want your mail handled.
You have two choices, Off-Line and Automatic.
I recommend you use the Automatic method for now - you can always change this setting later if you
decide you'd prefer the Off-Line method.
If you choose Automatic, your screen will look like this:

Click the Next button.
You are now prompted to enter your E-mail address and Full Name. Full Name will already be
filled in with whatever you entered when you installed Windows 95, but you can type over it if
you want to put something different there. Enter your email address (mine is shown below as
an example):

Now you are prompted to type in your mailbox name and password. The mailbox name is really
your user id, without the domain name on the end. Mine is shown in the example below:

You'll now be prompted for which Personal Address Book you want to use. Since you don't have one yet, just click Next to use the default one which will be created for you.
A panel will then come up prompting you for which Personal Folder File you want to use. Once again, since you don't have one just click Next to use the default.
The Inbox Setup Wizard will now ask if you want Microsoft Exchange to start automatically when
you start Windows 95. Most likely, you don't want this, so click the "Do not add Inbox to
the StartUp group" option:

Click the Next button, and you'll see this:

That's it - you've created a new profile! You're now ready to run Exchange for the first time!