Xbox Live's Major Nelson ยป #XboxReveal :
It'll finally be nice to put some of the rumors to bed to say the very least. The biggest rumor is that the console will feature an "Always Online" feature, where you must have a constant internet connection, even if you're playing a single player game. The other big rumor is that the user will have to install a physical copy of the game on the hard drive, which will somehow render the disc useless for re-sale, which in itself would eventually kill the used game racket GameStop employs. Like I said though, these are just rumors, and I'll wait to make my judgement on the console.
Either way I'm probably just going to stick to my PC. I'm having more fun with little $10 indie games and there's so many coming out that there's always something new to try.