The update includes Cloud storage for game saves and Live profiles, Beacons and Facebook sharing, enhanced family settings, more voice and gesture controls for Kinect users, Bing support (US, UK, CA) and a new, more streamlined interface.
In addition, Microsoft is planning to slowly roll out new features for the new-and-improved dashboard after its initial launch on December 6, 2011. Specifically, the television partnerships we reported on last month will start hitting the Xbox 360 during the holiday months, as well as new applications for movies, Internet videos, sports and music.