I wouldn't call it a disaster, but it was kinda bad. Unless you're the type of person who loves TV, multimedia stuff, FIFA/Madden and Call of Duty.. there wasn't all much there to be excited about. What came across as weird to me was the mixed messages I got from watching the reveal. MS said that they were still about the gamers, but throughout the whole conference they talked mostly about things which have absolutely nothing to do with games. Throwing in "we have 15 exclusives! Wait for E3!!" doesn't say much when they don't even bring them at the reveal. For all we know they could be mostly Arcade/Kinect games.
And, it was really disappointing that they didn't go into detail with the specs of the console. Seeing as this is a hardware reveal and these machines will be sticking around for the next half a dozen (or so) years, you would think that they'd at least show/talk about whats inside, powering the device. MS could have elaborated on the specs, showed off some in real gameplay footage and demo's to demonstrate what the machine is actually capable of. But instead, we got some quick, vague, bullet points on the specifications and a lot of pre-rendered/in game cut scenes.
I'll be frank, Microsoft should have waited it out a little longer for E3.
