Microsoft is breaking out XNA Game Studio Express. This little piece of love brings me one step closer to buying the Xbox 360 (I mean besides Enchanted Arms).
XNA will allow users to create video games on the PC for the Xbox. By joining a 'creator's club' for $99 (annually), you can share, test, and get some feed back for what you've created.
Finally, you won't have to be an employee to a large developer (or have a ton of your own equipment), to make your own, complete, and unconfusing, version of Final Fantasy VII.
(We love you Nomura, but man...)