Some of the features that are being said to be coming are:
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Last.fm
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Netflix
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Facebook
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Twitter
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Zune
UPDATE 10/20/09
According to Gamespot.com, there are 2 more features that are confirmed.“The first is an entire "Music Marketplace" channel, which will be focused on downloadable content for rhythm games like Rock Band, Guitar Hero, and Microsoft's own Lips. The channel will also offer high-definition music videos to download onto the Zune handheld multimedia player as well as serve as the home base for recommendation-radio service Last.fm, which is owned by GameSpot parent CBS Interactive.
Also coming to Xbox Live is a "News and more" channel, which will offer up information from Microsoft and NBC Universal's joint venture, MSNBC.com. According to an information screen in the XBL preview, all of the site's features will be on tap, including video news from television Network NBC and from MSNBC TV. The tab will also offer some non-news-related content in the form of cartoons from the New Yorker magazine and the office-satire comic strip Dilbert.
For a closer look at the Xbox Live Update, check out GameSpot Hardware's in-depth preview of its new features. The update is expected to go live next month.”
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