The San Jose Mercury News
is reporting on the X06 (big Xbox event in Barcelona) keynote speech and all of the info that has been revealed. Some highlights: Peter Jackson and Fran Walsh are working with Bungie on a new 'Halo' game, unrelated to the current series. Ensemble studios is working on a 'Halo' real time strategy (RTS) game called 'Halo Wars'. The add-on HD-DVD will retail in the US for $200 sometime in November. 'GTA: IV' will have two exclusive episodes available via Xbox Live after the game debuts in Oct. '07.
I'll update this story if any more breaking news comes out.
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UPDATE 1: Here is a link to Microsoft's official press release.
Two big things that I missed: the next Splinter Cell, the one after Double Agent, will be an Xbox 360 console exclusive. Also, Banjo-Kazooie is back! Derr-huh!