From the PlanetXbox360.com feature editorial:
"At last year's E3, Microsoft announced that a new update for the Xbox 360 would come out called the New Xbox Experience (NXE). Featuring an overhauled aesthetic and the ability to take advantage of the Netflix streaming video service, it was easily one of the biggest announcements at the Microsoft press conference. While it isn't exactly 'new' anymore, the NXE has become part of most Xbox users' lexicon as an alternative word for what it actually is: an updated dashboard. And, while the update improved some problematic areas and created a whole bunch of new ones, it was generally received well critically.
With E3 a thing of the past and no news regarding the 360's inevitable, next software update, one can only guess what could be in store for the Xbox community. While it may not be a complete revamping of the current system, there are still some major changes we would like to see when we boot up our Xbox next year."