Gamers have been impatiently twiddling their thumbsticks waiting for the, but after a frustrating delay it looks like it's finally here.
The update was supposed to go live yesterday but never materialised, with Xbox team member Larry Hryb tweeting that the dashboard update had been "slightly delayed".
Earlier this morning he tweeted that the update was ready, and had been pushed to Xbox 360 consoles all around this big watery beachball we call Earth. We've checked our machines in the office (for research purposes, you understand) and the update has indeed arrived.
That may not quite be the end of Microsoft's update woes, with a later tweet from Hryb acknowledging that some Xbox Live members were struggling to connect to the online gaming service.
The update itself brings an aesthetic overhaul, dragging the Xbox 360 in line with Windows Phone by introducing the tiled 'Metro' interface that will soon be gracing.
The update brings a slew of new apps, including LoveFilm and 4oD, that go one step further towards turning your Xbox into a proper telly offering -- unless of course you own one of the older models that makes a noise like a jet engine whenever it's switched on, and sometimes when it's switched off.
Doctor Who fans will be excited to learn that BBC iPlayer is.
What do you think of the new dashboard? Is it easier or harder to use? Tell us in the comments or on our Facebook wall.