On the entertainment side, I am once again saddened that a ‘new generation’ set-top box can only achieve cable TV integration via HDMI passthroughs and IR blasters. There was also no explanation of how the Xbox will communicate with your cable service provider, to get information on your available channel selection and such.
In regard to the games, I don’t think I can make any sort of judgement in this field. I have no clue what portions of the shown footage was pre-rendered cut-scene material. My guess is that not much was actual gameplay content. Hopefully, E3 will shine more light on what next-generation games will actually look like.