upcoming update for the Xbox 360 Dashboard is now live, giving a few lucky Xbox owners -- for now, mostly press outlets -- a chance to place their eyes upon many of the new features, such as Games on Demand, improved Netflix functionality, unlockable Avatar items, purchasable Avatar items, a community-controlled games rating system, and other minor improvements.
We'll have a video preview and some additional image galleries of these new features up later today. Fear not, non-chosen ones -- you'll get your hands on the preview shortly, and everyone will be able to install the update when it goes public on August 11.
Update: We've edited this post to clarify that while the preview is technically live, its access is currently limited to press and a select few "MVPs." Those of you lowly commoners chosen for the preview should be granted access in the next several days.