Well, kind of Woo Hoo - I don't have a 1080p TV, but still, it's a move in the right direction, right! Woo Hoo!
1080p support is just one of the new features in the latest Xbox Live Dashboard Update - the full list can be found here.
Some of the features that I personally think are great, apart from 1080p, are:
But can you get 1080p over component video? Well, over at avsforums, there is an interesting discussion on how 1080p will be delivered. I've taken this from a post by amirm, who's a 'Microsoft Insider' - does that mean he's a spy or something? Cool!:
"1080p is supported over VGA for DVD, HD DVD and gaming output. And yes, AACS does allow 1080p over VGA (classified under authorized "computer monitor outputs").
For component, you get gaming up to 1080p, and 1080i for HD DVD. DVD only works at 480p over this connection. The latter two are due to restrictions in DVD CCA and AACS rules for DVD and HD DVD playback respectively.
On gaming, the machine supports both scaling of 720p games to 1080p, and native games running at 1080p resolution. It is up to game developers to decide which way to go."
I hope that clears up any questions that you may have had.
You can make up your own mind on what's hot and what's not, in the full list. You can also read the Xbox.com Newsflash surrounding the update. Final link - read Elle's, technical writer for the Xbox team, view on the Big November Update.
Just to get the official blurb in there:
"This free update will be distributed via the Xbox Live® online gaming and entertainment network to all members (Xbox Live Silver and Xbox Live Gold) with no disc or hard drive required. Gamers without an Xbox Live account can easily sign up for free by connecting their console to a broadband Internet connection."