Here's a great video walk-through of all the new features of the dashboard update that's coming December 4th.
Now if you're really into bullet points here's some for you:
- Xbox Originals – With this new service, announced on Nov. 13, consumers can download-to-own full original Xbox games that were previously only available at retail. The digital shelves will always be stocked with classic titles, such as “Crash Bandicoot: Wrath of Cortex” “Crimson Skies: High Road to Revenge,” “Halo,” “Fable,” “Fuzion Frenzy,” “Psychonauts,” and more as the catalogue grows over time, at 1200 Microsoft Points per game.
- Xbox LIVE Arcade Hits – On Xbox LIVE Arcade, the Arcade Hits program kicks off where some of the best selling Xbox LIVE Arcade games will become available at permanently reduced prices, making it easier than ever for everyone to build a library of downloadable games! The first games to become Arcade Hits will be “Bankshot Billiards 2” and “Lumines LIVE,” which will be available for 800 Microsoft Points each, and “Marble Blast Ultra,” “Small Arms” and “Zuma Deluxe,” which will be available for 400 Microsoft Points each. With free trial downloads for every game and over 100 games to choose from, Xbox LIVE Arcade offers something for every member of the family.
- Inside Xbox – A new direct feed brings current news straight from Xbox.com into the Xbox LIVE Dashboard providing members an easy, predictable entry point where they can discover what's new in game releases, events, and Xbox LIVE Marketplace offers. (It will also feature brief weekly segments from myself, TriXie, Games Editor Denny Atkin, and SoozyQ.)
- Enhanced online profile – Members interested in sharing a few more details about themselves will have the option to go beyond their motto and further personalize their profile with an expanded bio. The extended bios will be visible to “Friends Only” or the entire Xbox LIVE community.
- Expanded Friends List access – A quick and easy way for gamers to expand their personal community on Xbox LIVE, members will be able to see the Friends Lists of other Xbox LIVE members, boosting their social networking experience on the service.
- Enhanced Parental Controls – Family Timer, a strong and flexible new addition to the Xbox 360 Family Settings, enables parents to set the amount of time their Xbox 360 can be used on a per-day or per-week basis by their children or other members of the household.
- New video features – The convenience of full-screen movie previews and enhanced video codec support further expand the options when it comes to the Xbox 360 entertainment experience.
Easy-to-use navigation features – With several noteworthy changes in the Xbox LIVE Dashboard, from the new Game Store button to the Video Store button to enhanced visuals and descriptions in the video library, Xbox LIVE members can find what they want, when they want it.
Now if you want more of a geek list with specs and detailed info check out this list here. One omission from the list above is the much asked for DivX support. Microsoft's big reason for never including this before was because they said that DivX was mainly used for 'piracy'. Now the only reason us 'pirates' use DivX is because it's one of the best video codec's around.