Or upgrade to a One. Besides the lowered price, they haven't really given existing 360 users much incentive so far for buying a One. Both MS and Sony have a long way to go with exclusives and functionality yet, the new machines don't really do a whole lot that the old ones can't.
Things will improve as developers slowly faze out support for PS3/360 though, games will look, sound and play better when they don't need a last gen version to make money on.

This is a good move by MS though, arguably the best one since removing mandatory Kinect.

Great move by Microsoft that Sony will likely not be able to counter. They are already showing how effective it can be with bundling older games with newer releases. It could be just one reason that will allow MS to turn the tide in the U.S. Never underestimate the ability to make your platform more attractive by increasing its' library of games. They have instantly done that.

I admit Xbox One drop the bom today, It will be hard for PS4 to emulate PS3 games. But i am still have some curiosity how x86 CPU can emulate Power PC (especially 3 core modified Power PC on Xbox 360). I am not saying it's impossible for PS4 to emulate PS3, but it will be difficult then emulating Xbox 360 on Xbox One. Overal good announcement for people who care for old games. I guess we still have to wait and see is this emulation work perfectly or not. I hope SONY can give a good shows tonight.

well nintendo has it for almost all there consoles, but thats great for Xbox fans :)

Only reasonable thing for sony to do is letting people play for free their games- i mean the games they already have on disk- on psnow. It's not as good as local emulation, but it would help a little.

this is cool and all, but wii u was bc day one.

Definitely one of the highlights of the conference!

This is pretty big, most of all because this makes Xbox the more viable platform for a digital library. The biggest dissadvantage of going digital on consoles so far was that you couldn't play the games on a new system so if you're old system was gone so were the games basically.

Sony took off with PSNow completely wrong, overpricing it ridiculously. 

If they gave PS+ members just one or two free weekly rentals a month, they would already be doing much better in popularizing it.

It seems to me that with Sony going that route, XOne had a clear path to make B/C look great. 

Offer a few months (possibly year) of PSnow. And this BC stuff can be countered. I think its silly the BC stuff has people flipping out. I personally dont play anything from last gen even though this gen has been a letdown thus far.

Good to see micro is still betting their hardware. Not seen anything on the actual show that has knocked my socks off.