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Rafux said:
Update: Microsoft says you won't need to pay a fee if you take a game to a friend's house and sign into their console with your account.

From Kotaku.

So it looks like - u buy game for XO, use a activation code and play game on your account only. So u cant sell a physical copy of games. U can sell codes for games via Xbox Live.

In a nutshell - GameStop doomed, and no piracy.