For a while now, a new system update for the Xbox 360 has been in the beta testing period which was primarily for a new disc format to increase the space and speed up loading times. The update is now ready to be rolled out and will be deployed over the next few weeks to ensure a quality deployment. In addition to the new disc format update, a new power saving mode will be added that automatically puts the system in standby after 1 hour of idle time. Be default this will be turned on but can be changed in the settings.
In addition to the above, Microsoft have announced additional integration with Paypal to allow Xbox Live users around the globe to purchase microsoft points, Xbox live gold subscriptions and games on demand with their Paypal accounts. This can be done after linking your Xbox Live account on Xbox.com to your Paypal account.
PayPal functionality will not be available in the following Xbox LIVE regions: Brazil, Chile, Colombia, Czech Republic, Finland, Greece, Hungary, India, Japan, Russia, South Africa, South Korea, Taiwan.
Source: Major Nelson