In a recent blog entry from the face of Xbox Live, Major Nelson, it was announced that the official release of the new "Xbox Live Experience" update will take place on November 19.

One of the most touted new features in this update is the ability to watch streaming movies and TV shows from Netflix on your Xbox 360. This feature will be free to Xbox Live Gold members who also subscribe to Netflix Unlimited. Once enabled, users will be able to watch with their friends in a party of up to 8 people, and Netflix claims that they will offer over 10,000 movies to choose from.

In addition, this update will allow you to create avatars, similar to the "Miis" from the Nintendo Wii. Players can customize everything from their body shape and facial features to hair and clothing, with more options being available for download on Xbox Live.

You'll also be able to save an entire game disc onto your Xbox 360's hard drive, effectively reducing loading times and DVD wear. And finally, the inclusion of a new user interface will round out the update, and effectively put an end to the blade system in use on the current 360 dashboard.