Whether or not this is actually in cards for MS with the next Xbox is pretty debatable although I can see a potential scenario in which buying a retail copy of a game adds the license to the user's XBL account, allowing them to do a full installation on the HDD of any console with that user's XBL account installed on it.
In other words, it would work just like Steam.
If MS wanted to take things a step further, the license purchased and registered to the user's XBL account would also give them access to download that game from XBL (assuming it was available on XBL), allowing that user to play that game on any console with their XBL account, without even having access to the retail disc they bought and registered.
I don't have a problem with that. In fact, I'd prefer it.
I would however, have a pretty serious problem if any Xbox game I bought was tied to an individual console though, given the life expectancy of console hardware.
I don't sell used games and the extremely rare occasion in which I even consider buying one is for the simple reason that the game is out of print and no longer available at retail. I'd rather have a new unused, unstepped on copy, and given the fact that really dated games rarely go for even $20 (usually it's a lot less) I don't really care if I can pick up a copy that's in pretty gross condition for a few bucks less.
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