Well at the very least people can easily transfer characters. So it's not all lost, but as far as the overall quality of the online services design is concerned this will make some marked improvement likely.
Also is it just me but are they killing off X360 live faster into the next console gen than original Xbox live? I feel like original Xbox live was around longer.
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It does seem faster with this generation, that could just be my distorted perception of time though. Another factor to consider is many Xbox Original games were compatible with the Xbox 360, generally this was achieved with a small update.