Although its cover was blown a little early, there's still new info coming out of the Consumer Electronic Show in Las Vegas concerning Microsoft's Xbox Game Room.
Microsoft's press release concerning the new Xbox Live service says the Game Room will be a "place to relive the glory days of arcade games", and over the next three years will see the release of "over 1000" retro titles. It'll also serve as a kind of "mini Home" for your 360 avatars, as each user will get their own arcade area that can be customised and, no doubt, upgraded (for the right price).
Interestingly, the Game Room will carry a two-tiered price structure. You can buy a game for between 240-400 Microsoft Points, or if you really want that old arcade feeling, you can pay 40 Microsoft Points and play the game once, like it was 1985 and you'd just dropped a quarter. Only, now it's two quarters.
It'll be out in the "Spring", and from here on we'll stop calling it "Xbox Game Room", as it'll be available for the PC as well.