The speculation is finally over as Microsoft revealed at the Tokyo Game Show this week that the New Xbox Experience will be made available world-wide on November 19th.

The New Xbox Experience will transform the existing Xbox 360 dashboard and add a host of new features to enhance the Xbox live service.

Alongside the announcement, Microsoft is tempting new customers to pick up a console by offering some excellent bundles deals in North America. For an estimated retail price of $199.99, the Xbox 360 Arcade holiday offer comes with six games, including “Sega Superstars Tennis” and five Xbox LIVE Arcade games. In addition, the Xbox 360 console ($299.99) and Xbox 360 Elite ($399.99) holiday offers pair the consoles and the promise of the New Xbox Experience with two amazing games: “LEGO Indiana Jones: The Original Adventures” and “Kung Fu Panda” — at no added cost.

We'd guess that similar deals will be available in Europe, but as yet have not been announced.

If you've missed all the hype surrounding the NXE, here's some of the features you can look forward to (as penned by Microsoft):

• Xbox LIVE Party. Xbox 360 allows you to create a virtual party on your TV with up to seven friends. With LIVE Party, voice chat while you play games, share photos in real time2 and entertain friends all over the world.

• Personality plus. Create a customizable, animated avatar and literally jump into the world of Xbox LIVE. Your avatar is your game-face throughout the New Xbox Experience and represents your personality — whether you are a LIVE Party host or chatting with a friend. With custom avatars created by the more than 14 million members worldwide, Xbox LIVE will have as many avatars as Tokyo has residents.

• On-demand entertainment. Xbox 360 is home to the best TV and movie entertainment, including more than 12,000 exclusive films and TV episodes from Netflix Inc., and a large online library of on-demand high-definition TV shows and movies from partners such as Constantin, Disney, MGM, NBC Universal Inc. and Warner Bros. Entertainment Inc.4 (US ONLY)

• Games for the community, by the community. For the first time in the history of console gaming, thousands of games developed by the creative community will be available to the public. The Community Games channel on Xbox LIVE will include games made by students, hobbyists, and average people all around the world and will be exclusive to Xbox LIVE.