Video Notes:
- The video was filmed on-stage, after Mr. Moore's keynote address
- The XBOX 360 in the background was used by Mr. Moore during his presentation.
- Two competitors also used it to play Project Gotham Racing 3
- There's a slight break in the film about half-way through the video, but nothing vital is really missing
- If you are unable or unwilling to watch the video, you may refer to the abbreviated transcript below for all the necessary details

Shortened Transcript:

Launch Titles

While the titles from MGS and EA are the only ones officially confirmed so far, expect several more launch day titles to be announced in early November. There will be approximately 15-20 titles released between launch day and the end of the year.

Backwards Compatibility

There are many issues that arise during the extensive testing for backwards compatibility. Titles that are already considered backwards compatible will be announced sometime in the very near future, and, while a particular title may not be deemed backwards compatible at launch, it may declared so after further testing down the line.

XBOX Peripheral Compatibility

Basically, they aren’t. Obviously the hard drive is very different, the controllers won’t work, and you’ll need new XBOX Live headsets.

Larger or External USB Drives?

The compatibility with a Windows Media Center system means, theoretically, you can have 200GB+ of space for your new 360. However, there are currently no plans to have an XBOX 360 hard drive that’s bigger than 20GB. It may be implemented several years from now, if such an upgrade is warranted, but for now the team believes that 20GB is more than ample. Files can be transferred and deleted and added just like on a regular PC.

Connectivity with Windows XP and Vista

While you can, in fact, stream content from a PC running XP to the 360 via your home network, Microsoft believes the real focal point should be Media Center Edition and that pure entertainment is key. USB expandability is also integral, while Vista, which will have a strong entertainment component, is also highly compatible with the 360.

Online Distribution

While we’ve seen the 360’s ability to download new content and features, there are currently no plans to stream full-length, new releases. The real focus has instead been on XBOX Live Arcade; those “bite-sized” classic titles accessible right from the dashboard. This is partially an effort to widen the demographic for gaming and make it even more mainstream in the coming years.