http://kotaku.com/5041292/xbox-360-fall-update-coming-out-in-november

IS there a option to "not" update?

You can chose to update or keep the old one .

^ What the heck? Why would you ''not'' update? We barely know what it can fully offer, don't judge yet.

Because I spent so much time setting up my xbox just the way I like it (With windows media extender, and all that) that it would be a shame for all of it "go" away with the update. Honestly I think I'm just mal-informed. I havn't done much research on said topic. I do still enjoy the sliders though. Best interface in my opinion, its sad to see it go.

Don't worry even if you update you have the choice of choosing the new or the old style blade-Dashboard ;)

You HAVE too update... and I highly doubt you will loose any of your console settings. Hopefully the only thing you'll noticed changed is the GUI.

You'll still be able to use it as media extender

The current interface works fine but if this new one is just as intuitive and makes it quicker to locate what you're looking for, it will be a welcome update. It's already been confirmed that you can keep your background image in place which was my only concern. I'm looking forward to being able to install games on the hd, though this will mean getting a bigger hd for me as I only have the 20gb.

Why so late in the season? I dont think that makes sense at all.