Okay, just finished watching it...
Some of the games look rather amazing, some of them just... Average. Of course these are just the first wave of games, as was seen in the first XBox they are bound to get only better.
Apparently Perfect Dark Zero can have 50 players online in one game at one time. Looks amazing! They showed some skins you can get for the XBox 360 as well, that's a cool feature IMO... Of course they didn't show the camera, so I don't know if that's actually gonna be there or not... I guess we'll have to wait until E3 to see more hardcore info.
They had quite a few trailers though of different games, it was pretty dang cool!