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There are far more options available in the new guide menu; you pretty much have access to everything you need just by pressing the guide button and shuffling through the mini-blades.

I did a full install for Gears 2 and while I can't say there's a night and day difference between load times (Gears didn't have load time problems to begin with), it does cut off the DVD buzzsaw noise during game play.

Full installs are arguably the best reason to have a 120GB drive currently.

It looks clean. A bit more complicated to navigate through than blades, but more options are also available. I'm probably in the minority, but the old dashboard interface was a real eyesore that did not optimize desktop space at all with all the visible side tabs.

It's an improvement all around, even if it does mean relearning where everything is located.

And XBL is currently lagging due to traffic.