Ok some of the integrated TV features were pretty cool. I found that event to be very disappointing though. Over an hour and not one bit of gameplay at a video game console reveal.
One thing to consider for those of you excited by the TV stuff. The 360 already works with live TV for select providers. Comcast Infinity is one of the few that it currently works with and they just happened to be the one shown today. Neither Dish nor Directv currently work with the 360. I fully expect them to increase their TV providers and add Dish and Directv since they put so much emphasis on it today but I wouldn't assume that this automatically works with all providers.
I was a 360 owner first this gen but I have to say I liked Sony's gamer first presentation much more than this.
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I think it will work with Verizon FIOS which very few have service from them but overall not too bad my guess is they will show more gameplay at E3 since that what it's mainly about.