After seven years of stealth development at Rearden Labs (a startup incubator), OnLive today unveiled itself as a new game service to deliver on-demand games. Basically, instead of running your games on a PC or console at home, you connect your HDTV to a small MicroConsole which receives compressed video from a remote server that actually renders and processes your games. The immediate benefits of the service is its low entry cost, since you don't have to build a high-end gaming PC or invest $500 on a next-gen gaming console. Games purchased with OnLive are activated on remote servers and the only data that is streamed to you is gameplay video and audio. You never have to download software, patches, or handle physical media. Think of it as video-on-demand but for games.