Confused about what this IPTV stuff is supposed to be? Then watch these two videos, from 1up.com. Microsoft execs Chris Satchell and Albert Penello break it down and walk us through the interface. But, if your too busy to sit through the vids here it is in a nutshell.

-Turns your 360 into a PVR
-It’s dependent on what service provider you have
-Integrates seamlessly with all the existing xbox live features. Get a game invite in the middle of Lost? Pause the show, go pwn and come back to the show later.
-Worried about running out of HD space because of all your Hannah Montana episodes? Repeat after me “The hard drive is detachable for a reason.”