Dash Update deets revealed: DivX support, child account and Live ID problem fixed

This is it folks, the complete and official reveal of the new features contained in Tuesday's Fall Dashboard Update. All the things we've discussed before are in there obviously, but there are a few new and scrumptious nuggets to digest as well. Here's everything in a nutshell.

• Xbox Originals: download original Xbox titles directly to your Xbox 360. The first games available will be Crash Bandicoot: Wrath of Cortex, Crimson Skies: High Road to Revenge, Halo, Fable, Fuzion Frenzy, and Psychonauts for 1200 points each.
  

• Xbox Live Arcade Greatest Hits: best selling Arcade titles will be available for permanently reduced prices. The first games available are Bankshot Billiards and Lumines Live for 800 points, and Marble Blast Ultra, Small Arms, and Zuma Deluxe for 400 points.

• Inside Xbox: a direct feed of news directly from Xbox.com to your 360

• Enhanced online profile: share info with Live members using a new bio feature which can be made available to everyone or locked to friends only. Also, you can include your real name in your profile
  

• Friends of Friends: browse the friends lists of your friends and other Live members

• New Family Timer that lets parents (or wives) limit game time

• New navigation system for the Dashboard with the Game Store and Video Store buttons

• New codec support including DivX and Xvid (yes, you read that correctly)

Finally, Major Nelson informs us of another new feature not mentioned in the press release: the Xbox Live child account problem has been fixed. For those unfamiliar with the problem, many Live members are stuck with a child account even though they turned 18 long ago. After the Fall Update, the account management section of the dash will have a "Promote Child Account" option. Yes, it does exactly what it says it does. Finally, as thank God effing finally!, the Fall update brings with it the ability to change the Windows Live ID associated with your Xbox Live Account. Have you been saddled with a crappy Hotmail address you don't use anymore just because your Live account is stuck to it? Not anymore. So there you have it kids, cheaper Arcade games, more networking, DivX, and some much needed problem fixes.

Head over to Joystiq for some more details.

Mini-update: find a comprehensive list of updates at the Xbox Team Blog.