-Support for DVD-video, DVD-ROM, DVD-R/RW, CD-DA, CD-ROM, CD-R/RW, WMA CD, MP3 CD, JPEG photo CD
-All games support 16:9, 720p and 1080i, anti-aliased
-Customizable face plates (picture below)
-3 USB2.0 ports
-Support for 4 wireless controllers
-Removable 20GB drive
-Wi-Fi ready
Custom IBM PowerPC-based CPU
-3 symmetrical cores at 3.2 GHz each
-2 hardware threads per core
-1 VMX-128 vector unit per core
-1 MB L2 cache
CPU Game Math Performance
-9 billion dots per second
Custom ATI Graphics Processor
-500 MHz
-10 MB embedded DRAM
-48-way parallel floating-point shader pipelines
-unified shader architecture
Memory
-512 MB GDDR3 RAM
-700 MHz DDR
Memory Bandwidth
-22.4 GB/s memory interface bus bandwidth
-256 GB/s memory bandwidth to EDRAM
-21.6 GB/s frontside bus
Audio
-Multi channel surround sound output
-Supports 48kHz 16-bit audio
-320 independent decompression channels
-32-bit processing
-256 audio channels
In addition Xbox 360 will have two types of Xbox Live -subscriptions -- Xbox Live Silver (free) and Xbox Life Gold (paid).
Features for Gold service
(S) Also for Silver
(O) Also for Offline
-Seamless transition to Xbox Live account from Xbox to Xbox 360
-Access to MMOs (additional fees may apply) (S)
-Free Xbox Live weekends (S)
-Multi player online game play
-Avatar for gamer profile(S)(O)
-Motto for gamer profile (S)(O)
-Personalized look for Xbox System Guide (S)(O)
-Offline achievements (S)(O)
-Online achievements (S)
-Access to other players' Gamer cards via Live (S)
-Cumulative gamer score (S)(O)
-Location/language profile (S)(O)
-Reputation (S)
-Enhanced matchmaking using above
-Skill level matchmaking
-Game play style profile (casual, competitive, etc.)
-Recent players list (S)
-Free and premium download game content(S)
-Free and premium downloadable movies, music, TV (S)
-Downloadable demos/trailers (S)
-Micro transactions (S)
-Custom play list in every game (S)(O)
-Play music from portable devices (S)(O)
-View images from digital camera (S)(O)
-Stream media from Windows XP (S)(O)
-Interactive screen savers (S)(O)
-Track info for CDs (S) (O)
-Communication with voice, video or text (S)
Source:
Engadget