Microsoft Points being phased out.

Microsoft earlier this week finally revealed details about its next generation game console, the Xbox One, at the Electronics Entertainment Expo (E3), setting in motion an eventual showdown this holiday shopping season with Sony's PlayStation 4 (and Nintendo's Wii U, though that one's been out for awhile). Most of the unveiling focused on upcoming games, though one tidbit that's been mostly overlooked is that Microsoft is finally moving away from its Microsoft Points system in favor of real currency.

Microsoft makes a splash at E3.

As expected, Microsoft will make its upcoming Xbox One console available to purchase in time for the holiday shopping season. The console won't come cheap, however, as the Blu-ray equipped gaming device will command $499 when it ships in 21 countries this November, Microsoft revealed on the eve of the Electronic Entertainment Expo (E3).  Setting the stage for a showdown with Sony and its competing PlayStation 4 console, Microsoft's pre-E3 event was mostly about showing off exclusive launch titles.

An all-in-one home entertainment device.

Gamers have been eagerly anticipating the launch of Microsoft's next generation Xbox console, and today they finally got what they've been waiting for. Microsoft's next console, previously referred to as Durango and Xbox 720, was introduced to the world as Xbox One, a name that underscores Microsoft's intent to rule the living room with an all-in-one entertainment system that's equally adept at playing games as it is for watching live TV, chatting on Skype, browsing photos and videos, and more.

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Foot-in-mouth disease got the better of Adam Orth.

Today's lesson is to think before you speak, whether it's in person or especially in social media where your words are essentially carved in virtual stone. Lest anyone need reminded of this, just look at how things played out for Adam Orth, now a former creative director at Microsoft Studios. Less than a week after trolling potential Xbox 720 customers on Twitter about always-on consoles and telling them to #dealwithit, Orth is reportedly out of a job and will have to deal with finding employment.