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Xbox Family Details:

"When your family member accesses any of your games, they're placed into a special demo mode. This demo mode in most cases would be the full game with a 15-45 minute timer and in some cases an hour. This allowed the person to play the game, get familiar with it then make a purchase if they wanted to."

I still think these are two completely different features.  We have conflicting sources.  Family sharing is dead. Let it go.

Microsoft denied the rumors after it was cancelled, so we will never know the full details.  Microsoft also wanted to avoid questions going as far as cancelling the scheduled E3 media roundtable.  Remember the E3 contraversy?

"In a departure from previous years, Microsoft cancelled its annual E3 media roundtable traditionally after its press event. The roundtable typically allows selected members of the press to ask questions of Microsoft executives about the polices and features like the Family Sharing plan. Without the event, the public was left without full details."