The new Xbox Live Dashboard update is now available. When you turn on your Xbox 360's today and you are connected to the internet you should be prompted to update. The update includes a lot of new features including the controversial Avatar Marketplace. It also includes new Netflix features including Movie Party allowing you and a party to watch the same movie. Here are some bullet points to remember.

• While you can browse and purchase Avatar items and full Xbox 360 games in the console with this update, the ability to add these items your Xbox 360 download queue from Xbox.com will be available this Thursday.
• Xbox LIVE integration with Twitter, Facebook and Last.FM will be available later this year.
• Zune Video Marketplace will also ship later this fall when it will replace the current Video Marketplace.

Source [Major Nelson]