How is the next Xbox going to fit into the rest of Microsoft's home entertainment strategy? Will it be able to double as a digital entertainment hub?

I'm not sure what you mean by the word hub there. Often we would think of the Media Center PC as being the hub and then the living room being able to connect up to all the music on the PCs in the house, all the photos on the PCs in the house, and having remote display capabilities so that if you've got video up on that PC, then great you can watch it, connect to it, set up to record it right with a remote control in the living room. So the high-end scenario for us is you've got Media Center PC, that's where your state is, but then you've got your Xenon out that are connecting up to that. Xenon itself will have some neat capabilities, but we're in pre-introduction here, and that group is brilliant about the unveiling. They've been very coy up 'til this point and I wouldn't want to steal any of their thunder.