Let the hive mind of Engadget get that for you.
"I need help! I want a small pocket camcorder but I'm not sure which one to get. I don't want to fall into the hype of the Flip because I worry two hours won't be enough. What should I be looking for when considering a small camcorder and where can I get a good quality one with expandable memory? Thanks!"
There already is a more integrated system, it has hundreds of HD movies available and it hooks up directly to your tv. The only diffence is the looooooong downloading times. It's called Xbox Marketplace.