With all the rumored Xbox 360 price cuts for September, Microsoft must have the sick new dashboard just around the corner too right? November actually. The new update is scheduled to be release in 3 from now. Just a quick recap on what makes the update a must have:

• Ability to save on and play games off the Hard Drive (instead of disks)- In short, this means quicker load times (big plus), lower risk of freezing with no more scratched disks (bigger plus), and an overall better gaming experience (biggest plus). However, you will have to keep the game you’re playing in the 360′s drive due to “pirating reasons” (people stealing games by making illegal copies of them).
• Avatars (like the Wii’s Mii characters)- Not exactly sure how this will go, but we do know these will be your players in downloadable Xbox Live Arcade games like Uno!.
• Netflix Support- This will make the Xbox 360 even more of an entertainment device, allowing you to not only buy HD and standard definition TV shows and movies, but you can now rent from the larger Netflix library and straight to the 360.
• New “Floating Panel” Interface- We mentioned this is similar to what Windows Vista has with that new flip 3D interface, and the released pics of this new interface (see pic above), look both intuitive and aesthetically stunning

Sound good? November is still a couple months away so sit tight until this “mandatory (Microsoft’s words not ours) update” comes. In the meantime, tell us what you think of the new update, the 360, or just your video game console of choice– and what they should do to fight this update if necessary– in the comments.

Info from Engadget.com