You may or may not heard of IPTV, which is like VOIP except it’s not phone, but TV over the internet. Anyway, IPTV will becoming to the Xbox 360, and will pretty much act like Tivo but without the Tivo. IPTV will bring live TV to your Xbox 360. You will be able to record TV shows too. While you are doing something more important…like owning noobs on Xbox Live.
Downside to this is the wait. According to Microsoft, IPTV will not be availible for the Xbox 360 until near the end of 2007, but they do say that most shows will be from channels that are already apart of the “Microsoft TV” IPTV Group (which is just about all the channels your provider [comcast, att, etc] already has).
Microsoft, as always, has not revealed how much the service costs [yeah, it’s not free. That sucks, but it probably will be cheaper then Tivo] or how big recorded videos will be (thus the need for a bigger HD, which brings up the rumor that there will be a big harddrive availible as an extra)