Ok, before everyone gets carried away with all of the recent Xbox 360 news I wanted to let you know what we've found. There's been a lot of hype about Xbox 360 disc images and some new tools appearing to extract those images. Existing Xbox tools should already be able to extract them. Qwix 1.01 (the most recent public release version) can extract them if you just change the file extension to .iso instead. I'm not sure if other existing Xbox tools will work, but I suspect most/all of them will.
I'm trying to help avoid seeing a whole new batch of 360 iso tools, when they're really doing the same thing as all the old Xbox tools. The scene saw a lot of iso extraction/creation software surface, and some of them were quite buggy and caused people to waste a lot of time (and blank discs). There's nothing new/magical about the Xbox 360 images.
As far as Qwix is concerned - yes, Qwix 2.0 is in the works. It has been for quite a while. Real life caught up with me and changed my priorities. It has some great enhancements that should make existing Qwix users happy. I don't know exactly when I'll get to release it, but it should be in the not-too-distant future.
Happy holidays from Devenic and Team Avalaunch!