Microsoft may have gotten the first word in at E3 (thanks to having the earliest press event) but will its litany of exclusive announcements enough to steal the show? Maybe, but we did hear a few gasps escape the audience when the firm dropped that $499 price tag. Let Engadget's Ben Gilbert and Joystiq Editor in Chief Ludwig Kietzmann break down the price, the games and presentation's technical difficulties for you in our post-event live stream. Join the fun after the break.

Follow all of our E3 2013 coverage at our event hub.