This from A MS press release.

Press release
A New Dawn in Home Entertainment for Everyone Begins November 19
New Xbox Experience Ushers in a New Era of Entertainment with Movie Studios throughout the World

LONDON - Nov. 18, 2008 — In 1954, the introduction of colour TV heralded the dawn of a new era in entertainment. On Nov. 19, more than 50 years after that dramatic shift, a new era in home entertainment begins with the New Xbox Experience as millions of Xbox 360™ consoles will transform instantly through the power of software. A bold new future begins now, where high definition entertainment is delivered in an instant, the best games share the stage with the best movies, and every experience is shared with friends and families, in the same room or around the world.

By the end of this month, Xbox 360 will reach another industry defining milestone: 25 million Xbox 360 consoles sold worldwide. It has taken the leading next generation game and entertainment console just three years to eclipse the total lifetime number of original Xbox consoles sold.

Full press release here.

I guess they've gotten creative with the meaning of leading?

I don't mean to troll, but are they heralding the ability to download HD movies and play online games? I guess it's sort of new that a console can do both, but this isn't exactly something new otherwise.

Good for MSFT...still it is over hyping the situation. I have the NXE and it is no b/w to color TV revolution.

I actually found it quite funny that they were comparing the launch to the introduction of colour TV.

I mean how good is that lol.

I can actually do that on my PS3 right now, so I don't think that's the shift that they are talking about, though I admit I don't know what is.

I wish I could fit that whole thing into my sig. That was priceless!

No, you can't. He's talking about Netflix. And Netflix is just like icing on the cake, NXE offers so much more. Tomorrow's the big day ;)

For America only. I really want that feature will it come to Europe eventually?

So I imagined the movie store with all the HD movies?  Or playing online games?  I am commenting solely on those two abilities, I have not kept up with NXE and do not know the other capabilities, but those two things are already possible through other means so I find it unlikely that they are huge innovations.

First of all, I don't even know why he mentioned online games because we've all been playing online games for years. And being able to download, what is it, more than 10,000 HD movies at launch whenever you want and go in an 8-person chat and have them all watch it with you for free, is that comparable to anything else at the moment?

And I can't really direct you to more information about NXE's capablilities, but I'm sure tomorrow and so on there will be countless topics about it (when it launches).