You can see the video of the full conference online (1h22min): xbox.com(High), xbox.com(Low), TeamXbox.com or gamespot.com. The official press release of the event is available on xbox.com

Here are the Highlights of the event:
- No exact launch date and price yet, but it will be launched this year (christmas holiday season 2005) and simultaneously (within 6 weeks) in US, Europe, and Asia.
- Between 25 and 40 games for the system launch (within first ~90 days) and +160 in development.
- The Xbox 360 will be backward-compatible with top-selling Xbox games. Forbes.com kinda broke that story already - see previous news item. It's unknown yet which Xbox games will or will not be compatible.
- Square Enix, a longtime partner with Microsoft rivals Nintendo and Sony, will be bringing Final Fantasy XI to the Xbox 360 and Xbox Live. (another story broken by forbes a few hours ago).
- More Xbox 360 games from Square-Enix are expected in the future! They showed footage of what seemed to be an unnamed Xbox 360 game.

- Xbox 360 users will be able to play Square-Enix Live-enabled games against PC players.
- Electronic Arts will have the largest commitment of games at launch in console history. At least 6 will be out this year: Need For Speed: Most Wanted, The Godfather, Fifa 2006, NBA Live 2006, Tiger Woods PGA Tour 06 and Madden NFL 2006. They have +25 games in development for Xbox 360, with more to come.
- Exclusive titles for the Xbox 360 currently include the likes of Dead or Alive 4, Call of Duty 2, Gears of War, Perfect Dark Zero, Kameo: Elements of Power, Project Gotham Racing 3, and Lost Odyssey.
- Every game will have a minimum of 720p resolution (some will have 1080i), 16:9 aspect ratio and 5.1 surround sound.
- Microsoft will have 2 million Xbox Live Subscribers by the end of this fiscal (June).
- Xbox Live memberships will transfer seamlessly from Xbox to Xbox 360 when the new system launches.
- The free Xbox Live 'Silver' level will include Xbox Live Marketplace to download demos and trailers along with new game levels, maps, weapons, vehicles, skins, classic arcade games, card and board games, community-created content, and more to the detachable Xbox 360 hard drive. Players can also voice chat with friends as well as send and receive text and voice messages.
- The paid Xbox Live 'Gold' subscription will add online multiplayer gaming, online tournaments, Spectator Mode (example: watch a PGR3 race) and exclusive, original programming.
- P. Moore proposed a PGR3 tournament where thousands of gamers could pay $10 to compete in a race tournament for the chance to win $million.
- All Xbox360 owners will get 1 month of Xbox Live 'Gold' for free.
- Microsoft expects to connect half of all Xbox 360 consoles to Xbox Live.
- Xbox Live Arcade (with 'old school' games for casual gamers) will still be there (free?).
- iPod and PSP integration! Unknown yet what exactly you will be able to do.
- Xbox 360 is "digital entertainment amplifier" for other devices. You will be able to connect many digicams and music players to transfer/stream your pictures and music to your Xbox360. The console will also interact with Windows Media Center-equipped PCs. (Stream HD music/video, ...)
- J. Allard: "Xbox 360 is also the product that's going to push gaming back into the mainstream"
- Microsoft premiered footage for the anticipated 3D fighter Dead or Alive 4 (Xbox 360 exclusive), it 'wowed' the audiences with crisp, clean visuals running at 60 frames per second. Read More
- They talked about and showed several Xbox360 games, xbox.com has a short overview of each game and TeamXbox.com has High-Res trailers of some games.
- The original Xbox will get 200 new titles this year, with hundreds more in 2006 and later.