For those who can’t wait for the much anticipated update that Microsoft is bringing to the Xbox this fall, Joystiq brings you a video preview to get over till the release comes. For those who don’t know yet (where you been) this update is huge in terms of console updates. Microsoft gave us the Live Marketplace which no one can deny its resounding success. Then came Netflix, the online paid subscription streaming video giant which allowed Xbox 360 users to watch a huge selection of movies, tv shows, and video on demand. Microsoft this fall will now up the ante promising to bring more big names of the internet such as MSNBC, Facebook, Zune, Twitter, Last.fm and more.