The New Xbox Experience's launch is impending and the hype is building. In the past few days, Microsoft has given more information about the Xbox 360 revamp, including possible movie and photo sharing, the structure of updates, and the size of NXE.
Movie sharing, while not in the update now, is a possible future application.
Big updates will not be as frequent, but Microsoft will be able to update the service on the fly, no patches necessary.
NXE will be 128 MB, too big for original Core gamers or those with 64 MB memory cards, but Major Nelson has said that a "storage solution" is coming.