I think this might be a Canadian exclusive? Anyway, I got to try it tonight. I was neither The One nor part of The Mob - I was just in The Crowd, which was still fun. You get to play along and compare your score against three random fellow players. I wouldn't schedule my week around this, but if I happened to have a few free hours while a game was going on, I'm fine with giving it a try.
One of the questions was "Which recent Academy Award nominee appeared at Wrestlemania XXV?" with the choices being Hulk Hogan, Mickey Rourke, and The Rock. I was surprised how many people got it wrong.
You can copy anything to and from it. So if like me you have a 20GB drive that fills up fast, you can download games and copy them back and forth when you want. Granted it takes a little time, but nothing terrible and much cheaper.