Microsoft may have been the last of the major console makers to announce their next generation system but they certainly didn't disappoint - that is, depending on whom you ask. Leading up to the reveal, many believed Microsoft would position the next generation system as a device designed to be as much of an entertainment hub as a gaming system.

After watching the Xbox One unveiling, however, I'm inclined to believe that most got it wrong. Given the One's heavy focus on live television, it's easy to envision how Microsoft may have figured out a way to transform the Xbox from a gaming console that also handles media into a home entertainment hub that just happens to play video games.

The Xbox One is now poised to become a huge mainstream success if Microsoft plays their cards right and even more so if they can get broadcast executives on board with their vision. There's still a lot of unknowns, but let's take a closer look at the facts thus far.

The Xbox One includes HDMI in and out which will be used as a passthrough for your cable or satellite set-top box. That's huge in and of itself because it means Xbox One users can circumvent the dismal programming guides found on traditional set-top boxes from the likes of Comcast, DirecTV and others. Instead, users will have access to OneGuide.