Obviously, they don't have final hardware yet, but AnandTech (anandtech.com) got some hands on time with the 360, and it's the most I've seen of the system yet. It looks like a very well designed piece of hardware.
And they show some of the XBLive functionality, including the streaming of media from your PC (and Mac, if the rumors I hear are true). Good stuff.
"It's the four pillars of the male heterosexual psyche. We like naked women, stockings, lesbians, and Sean Connery best as James Bond because that is what being a [man] is." -Jack Davenport, Coupling
Except that I can NEVER, EVER pull off a finishing move in either Revenge or 2000 (same engine.) Instructions say once your attitude meter flashes "special," all ya gotta do is get the guy in a strong grapple (A button, right?)