The Xbox One. Your all in one entertainment system.
Unless you use Windows Media Center, in which case you’ll still need your Xbox 360 to use as an extender.
Oh, and unless you want to watch 3D Blu-ray discs, because that won’t be supported when the console launches. So make sure you have a separate Blu-ray player.
And if you’re outside of the US, none of the TV integration will work, so you won’t be using it for that.
And of course you’ll still need a PVR if you want to record TV (hey! You can use Windows Media Center! Just not with the Xbox One – see above).
Don’t forget, too, that if you have all your media sitting on a NAS or on a PC in a back room, you won’t be able to use the Xbox One to look at that. Only “Play To” is supported for streaming your own media, so keep your Xbox 360 around if you don’t want to have to go to your PC to start streaming.
Remind me again why I ordered a Day One console.
I've owned the Xbox One for a few days now, so I'm ready to add some things to this list!
For example: Don't expect to use the Xbox One as a Blu-ray player at least until there's been an update to the Blu-ray app. The audio sync is out by enough to be noticeable if you're playing a movie at the default 50Hz, but if you try to play at 24Hz (the preferred setting) it'll be out so much that it looks like you're watching a badly-dubbed foreign film.
And don't expect any DVDs you might have bought from overseas to work. Unlike pretty much every DVD player you can buy in Australia, the Xbox One is region locked and will only play region 4 DVDs.
Honestly I do think the Xbox One looks like a great platform. There's some real potential there. But right now I believe it was released about six months too early. By mid 2014 I think we might have a device worth owning. Time will tell.