"Aside from the silly fluff surrounding the MTV 'special,' which was a big ad featuring more ads and the E3 launch, the Xbox 360 appears to be a formidable piece of hardware. And the industrial design, while different from the usual black or brushed metal gear in most home theater racks, is sleek and attractive. But I can't help feeling that Microsoft missed some big opportunities. It starts with minor things, like the lack of DVI or HDMI outputs that support HDCP content protection. And since Microsoft is launching a year ahead of Sony, they won't be adopting any type of high definition DVD technology, due to the dueling standards that currently exist. Then there's Holmdahl's statement about locking down the Xbox 360 even more, to keep the modders out.
Now, Microsoft can get around all these objections. In Jason's interview, Todd Holmdahl noted that the Xbox 360 was designed so that upgraded versions could be easily created. Of course, this has the potential of creating a certain amount of ill-will among early buyers, unless some type of easy upgrade program is implemented."
As you can see there are many benefits to a Spring 2006 launch. This way the console can be completely HD compatable for whatever standard gets ratified. If the initial version of the Xbox 360 is not upgradeable, you may find yourself with a door-stop sooner then you think.
"While Microsoft has said that Xbox 360 will be capable of playing 'top' titles for the original Xbox, the next-gen machine may not be fully backwards compatible, it has emerged.
'At launch, Xbox 360 will be backwards compatible with the top Xbox games,' wrote Xbox Live boss Larry Hryb on his blog recently.
However, Hryb doesn't go as far as to say that all Xbox games will work on Xbox 360, saying only that this is Microsoft's 'goal'. "
All I have to say is every PS 1 game I have tried in my PS2 works fine.