Alongside the announcement of bonuses like an exclusive achievement, the One’s terms and conditions are listed and are rather alarming.

• Requires broadband internet (ISP fees apply), a Microsoft account and an account on Xbox Live in an Xbox One-supported Xbox Live country/region, and 720p or higher HDMI-compatible TV. To receive live TV via broadcast or cable, supported receiver device (television tuner or cable/satellite set top box) with HDMI output and HDMI cable required (all sold separately).
• Additional subscriptions, internet speed and/or requirements apply for some features.
• Kinect Sensor for Xbox One (included) and periodic system software updates required for continued use; significant updates may be required during set-up and over time (ISP fees apply).
• Some games not transferable and have no resale value; restrictions on games usage apply.
• Games, Kinect and accessories made for Xbox 360 or original Xbox will not work with Xbox One.
• Xbox One system software uses a significant amount of storage; less internal storage will be available to users. 500 GB = 500 billion bytes.
• You must accept Xbox Terms of Use (including Xbox software terms and game license terms), Microsoft Services Agreement, and Xbox One 1-year limited warranty. Some games have additional license terms.
• Terms include binding arbitration with class action waiver to resolve disputes.
• Additional requirements will apply.

“Terms include binding arbitration with class action waiver to resolve dispute.” In other words, no more legal cases against Microsoft if Xbox live gets hacked or if the hardware suffers Red Ring of Death style issues.

The class action waiver thing has become standard in ToS use pretty much everywhere and even then I'm not sure it carries much weight. The non-transferable line might be about digital content.

Both MS & Sony already have a class action waiver in their respective TOS. And XBLA/PSN games are already non-transferable. These are non issues really.

I did notice the disc space thing though. How much do they class as significant? I would say anything over 5GB.

Arcade games. Not a big deal but spin it how you want.

It's running windows, or some derivative of it in the background isn't it? I can imagine it would be greater than 5GB if that's the case. 

digital downloads stands to reason you cant sell them

Sounds bad, but it is basically talking abou digital content. I have some psn games as well as XBLA games that I can't transfer or resell.

Alarming to who?

Many people like always connected. It brings many benefits.

Most people who complain are complaining from a money point of view. Dont try and give me principle crap. Pirates are to blame for that, not policies.

I have the money, and side by side PS4 doesnt get a look in for me. Id feel awkward buying a PS4 instead. As it doesnt offer me what I want from next generation.

Currently in the UK they are hounding Google and the like for digital data protection and digital searches. Theres even talk about forcing DRM on Digital Data in the UK.

Piracy is actually against law if anyone has forgotten. Its also the biggest form of theft in the world.

I would love to watch all those cry babies cry because they can no longer Pirate Digital data and destroy the industry.

Go on EU FORCE DRM

Hopefully so. Being MS and having massive experience with OS partitions... I think we'll be right. People on this site are trying much too hard.