You will be able to simply tell your television what you want to watch and choose from the multiple sources on Xbox 360 that may be offering it live or on demand.
Though you can watch The Sopranos and some movies in gorgeous HD, many shows on HBO and Showtime are simply fuzzy upconverted versions of standard-def fare.
Netflix users will now be able to browse the entire catalog instead of simply loading their queue, and Microsoft has also gotten its Party Watch system in order, so you'll be able to heckle videos with your online friends.