In an updated release of rules, Microsoft addresses the many users out there that make money by creating videos or live streaming their game content.
"But enrolling in the Youtube partner program (or other similar programs), where you are entering into an agreement to get paid, is not allowed."
As posted by Stinkles on NeoGAF
"As I mentioned in the Halo community thread, these rules actually haven't really changed, and even the updated and clarified text has been up there for months. I assume somebody just noticed this and posted this morning because it sort of blew up. This has always been the Legal status for the IP (and MOST IPs in fact), and as you also already know, nobody is being sued, or in jail, etc etc etc.
The language isn't designed to stop kids streaming their games, or covering their costs, it's designed to stop big companies from using somebody else's IP to run a business.
We'll put together some language that will help community people navigate this easily, and give people workarounds."
We have responded to this in the blog post
We have added an additional update to the blog including the previous wording that did not specifically mention YouTube Partner Programs or similar service. We went back through all of 2011. This is the first time the legal terms specifically mention this.