The Microsoft press conference was one of my most highly anticipated events at E3 2009.  However, when the time came to watch the live feed online, I was scrambling to find a site with a good stream.  After hopped from Gamespot to Gametrailers to IGN, I wound up back at Gamespot just in time to see Tony Hawk present his new game.  I missed the presentation of The Beatles: Rock Band, but I don't care about that game anyways (I don't like The Beatles).  I was very pleased with the Modern Warfare 2 gameplay demo.  The Aliens esque radar attached to an assualt rifle, the ice picks, and the snowmobile driving all looked really cool (lol pun).  I was also very excited to see the first trailer for Crackdown 2.  If the game is anything like the trailer, I'll have to set aside some time for more agility orb collecting in 2010.  Splinter Cell Conviction looked surprisingly good, almost bringing a Jason Bourne tone to the steath action gameplay.  And of course, I almost jumped out of my seat when Kojima popped up on stage.  Metal Gear for 360, I just jizzed in my pants.  The addition of last.fm and facebook into xbox live is also really cool.
As for the motion camera stuff, sorry, I don't care.  It was said that the controller was the thing that is an obstacle in the immersiveness of video games.  I do not think this is true at all.  I think the only obstacle is the looking glass, the TV.  However, I don't think we are going to be able to create a virtual reality with a human/machine interface any time soon.