I'm disappointed, for a number of reasons.
First, it's clear that Microsoft isn't really interested about developing a video game system here - they want a living room media center. Which, you know, is fine for them, but as a customer, a gamer, this doesn't apply to me.
Second, most of the conference was spent talking about features that I'm not only uninterested about, but have no access to. I don't have cable TV. I don't watch cable TV. I don't watch sports, nor have a fantasy football league. None of this TV or movie stuff interests me, nor does it apply in any way whatsoever.
Third, when they did talk about video games, not only did they only show a few titles that everyone already knew were coming, but they didn't show any significant footage. Some scenes that might've been pre-rendered, a weird game/show thing (Quantum Break), and a whole lot of info about Call of Duty.
And speaking of which: fourth, that Call of Duty reveal. Do you know how disappointing it is to hear people get excited about adding 'mantling', a system that's been not only in games like Brink, but even older games like Thief? Or leaning? Wow, leaning! And character customization! It's like we're back in 1998, only the graphics look better. And people are getting really excited about the dog, but we have yet to see if it'll add anything to the gameplay.
Overall, I'm disappointed with the Xbox One reveal. A lot of people are saying to 'wait for E3' when all the 'good stuff' will be shown, but I honestly don't know what Microsoft intended to do with this conference. I guess we'll see if, maybe, there is actually something worth getting, but unless there are some crazy bombshells, this is one console I'll be passing on.