Yes, MSMQ is an ongoing queuing solution. It reliably stores messages in a backup storage that will not be affected by power loss (unless you experience things like a disk that is bloated separately from a really massive power surge, of course).
The point is to provide a reliable message queue in a potentially untrusted environment. To this end, losing messages when a particular server is down will be a significant drawback.
From Microsoft's own pages (and an apology for a language similar to a sales language):
Message Queuing applications can use the Message Queuing infrastructure to communicate on heterogeneous networks and with computers that can be offline. Message Queuing provides guaranteed message delivery , efficient routing, security, transaction support and priority messaging.
source share