1/ Will it finally make the 360 reliable (I somehow doubt it, givens Microsoft todate record on hardware reliability).
2/ Does the increased flash size from 16MB upto 256MB mean that new consoles will be getting functionality that the 20m existing consoles won't be getting. I would sure be annoyed to find out that another round of incremental 360 upgrades have locked me out again (HD DVD, HDMI, HDD, NXE Memory cards anyone...)
I don't really care, as I bought the real deal straight off, the PS3, which has maintained it's core spec (aside from die shrinks and HDD sizes). It's also interesting no note that it's taken Microsoft over 3 years to move to 65nm process, yet Sony managed it in a year with the PS3. It's also interesting to note the 150w requirement. My new 80GB PS3 (with 65nm Cell and 65nm RSX) consumes a mere 90w idle, 110w under load.