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Sorry I did not realize at the time this was the defacto thread for Xbox BC discussion, so I'll leave my post here.

This really is a game changer and lends a great deal of goodwill to Microsoft for doing this. Since this also shows that they are committed to supporting the Xbox 360 marketplace. Which is great for people who have invested large amounts of money into these stores.

Like others already said, this will make it easier for 360 owners to decide what to upgrade to, as many have still not done so.

This was also done with no charge to the end user and Microsoft needs to keep driving that point.