E3 2003: Xbox Live multimedia updates confirmed
And Music Mixer.
27 hours without sleep was obviously going to cost this story one or two details, so just in case anybody wasn't aware, Microsoft has also confirmed its Xbox Live multimedia functions (mostly documented here), adding Xbox Live alerts to MSN Messenger, web stats, team facilities, a sort of global chat room and the ability to invite people into games even if they're just mucking about in single-player.
The other omission was new dashboard application Music Mixer (out by Christmas), which will let you toy with music in various ways - stripping out lyrics for karaoke, mixing/matching/shuffling and customising soundtracks, and sharing media with the PC.