The new Xbox 360 dashboard is live this morning for all to download. You'll be prompted for a system update once you boot your Xbox 360 and connect to Xbox Live.
The update will get you a brand new party system in Netflix, Avatar items and unlockables, games on demand, a full rating system for all content, and enhanced user interface features like a new achievement browser and sortable friends lists. You may even see some performance improvements. You can find out the entire change log of updates on Xbox.com.
Which feature is your favorite feature of the update? What feature would you like to see in future updates?