I didn't get to watch it since I was at work, though I did try to keep up with the headlines. From what I've read about while trying to catch up I didn't really see anything new or "megaton". I don't have a 360 though, so I may be biased.
Natal errr Kinect so far has not shown me anything that cannot be emulated with the Wii or the PS Move aside from maybe the menu navigation, and that disappoints me. I was fully expecting a Gears 3 or Halo Reach demo with Kinect providing simulated 3D on a 2D screen via head-tracking. Granted Kinect is young, but it's 15 launch titles just look like Wii Shovelware ported, which the same can be said for the PS Move's offerings that I've seen so far. I think the best news coming out of MS today was the new model of 360 with the built in WiFi and redesign, built in WiFi should have come with the original 360.
"Women are like sunsets… they’re beautiful, but there will be a different one tomorrow." - Gilder