The update that is on its way to the Xbox 360 will change the layout of everything from the Dashboard, to the Zune Marketplace, to the Arcade Game Marketplace.  This new update will also have ESPN3 streaming video and a Netflix search so you don’t have to do it from your PC. Some people have it right now through either illegal  download or through the preview program.  The people that have it now can’t join the good old fashion party chat that is currently a part of the Xbox 360 because the updated has a different codex.  Your voices will even clearer with this update, believe it or not.  The update will be available for everyone before Kinnects’ November 4th release date, so that means soon.  Here are all the official updates that the update will change.

• Improved voice quality — the audio codec is being updated to improve Xbox LIVE Party chat audio quality. So grab your friends and jump into a multiplayer game, catch a big sports event, watch a movie or do all three.
• Improved experience for changing your Gamertag — choosing a new Gamertag? If the Gamertag you’re looking for is already taken, your Avatar will spin a wheel and we will provide five other Gamertag suggestions at a time for you to choose from.
• Streamlined in-dashboard virtual keyboard — we’ve taken the existing QWERTY keyboard in-dash and made it easier to use for scenarios that involve repeated text entry, for example when signing up for LIVE within the dashboard.
• Improved Xbox LIVE Marketplace UI and browse experience — the Games Marketplace has been re-organized to provide streamlined access to the games and content you want, reducing the number of steps it takes to get to a download.
• Avatar changes — we’ve made your Avatars slightly more proportional so you can better play Kinect games
• Easier to get on a wireless network — trying to connect to a wireless network? With the next update, you’ll see a list of all the wireless networks within range when you go into network settings. From there, you’ll be able to select a new network or further configure the network you’re connected to.
• Ability to sign-out other controllers in the sign-in UI — we’re adding the ability to sign-out profiles on other controllers in the sign-in UI within the Guide. This is especially useful when playing games like Rock Band.
• New browse experience for 100% completed games — you spent a lot of time and effort earning those Achievements, so instead of only being able to view your first dozen completed games, we’re giving you a new and better way to browse all of them.