The next time you login to the 360, you'll be prompted to update your system. Nothing new this time around as detailed by Major Nelson
but the update needs to happen for "future growth of the service". I'd be happy if it fixes the fact that my console takes a minute or two to sign in. Of course they have nothing to announce about a Spring update. Let me ask, do you like this slow update schedule the 360 has or the more agile method approach of Sony's where they release many small updates? Personally, it's nice seeing the PS3 getting things here and there in a short amount of time.