'and the facility to install games to your HDD (like the PS3).'

Wrong.

PS3 does not allow install of games, its a partial install and has to read off the disc AND hard drive to allow for a slightly faster streaming since blu-ray is slow.

Xbox 360 installs IS infact FULL installation of a game, needing the disc ONLY to prove that the game is present in the system and fully streams the game off the hard drive resulting in no spin of the dvd drive to access the game and improving load times.

May I also advise that the biggest news for today is Tekken 6 for the 360 just in case you missed that Spong...

I saw a comparison video of GTA IV booting up installed to the hdd and from the disc only...worked out to a few seconds, and one "still shot" faster.

The bit that I'm looking forward to is a complete abscence of unreadable disc errors and hopefully a reduction in game freezes.

But yeah, you are perfectly and technically correct. It is misleading and IMNSHO, wrong, to imply that the new hdd install feature for 360 is similar to that used on the PS3, when it is not implemented in the same fashion at all.

From what I read about that video was there were a few mistakes made and errors with timing being a bit off and the video having to catch up or something or another.

All in all the major improvement here is no disc spinning couple with faster load times overall that has to be a huge improvement.

For me the biggest benefit will be the reduction of Noise, I dont play with much volume due to sleeping kids and the sound of the 360 reading disks is to loud for me at times.

someone needs a reality check, if they think that's big news