The most exciting news of the conference imo. A little sad come to think of it seeing as it has nothing to do with the xbox one.
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Because that's what it is supposed to be. When it comes to the Reveals, it's going to be underwhelming because they're only showing off the console; that's what it was intended for. If you didn't know MS's business plan, now you do: E3, the big cheese, is where it's at when it comes to games. By showing off games at E3, MS will get people hyped and whatnot for the Onebox (yes I just made that up). It'll increase stock, increase interest, plus it'll give developers more funding if people are interested in the games they make.