hmm, can't wait!
Still waiting for T-X to release those software features previously not possible with their X360USB device, as touted back in April release.. Im sure that Xk3y will be better than CFW, and less of a pain to keep up to date - Also sure it will be a bigger target for MS, will never do live safely (not like iX firmwares ever were live-safe anyway), and a solid reason new drive firmwares will release.
The question will be if CFW can keep up on Live, and which team will counter quicker.