You don't have to wait until the upcoming dashboard update is officially released this holiday, according to the Major Nelson blog. In fact, you can opt in to preview the new system and experience it's bells and whistles, as well as help Microsoft test the new system right now by registering here The update is supposed to facilitate "intuitive navigation, increased responsiveness and improved engagement with Xbox experience" (what does the last thing even mean?), and will include the following features:
• New design for integrated Kinect and controller navigation
• New Beacons to play online with friends
• Deeper Facebook integration
• New Cloud Storage for Game Saves and Xbox LIVE Profile
And, thankfully, should you be accepted into the program, participating does not mean cutting yourself off from your friends. Where previous preview programs rendered people unable to engage in party chat, the party system with non-preview-program will still be available this time around.