It does look awesome but I am dubious about the technology.
First off - it's microsoft, who has given us vista and the blue screen of death and the xbox red ring of death. Not known for having the most consistent products.
Secondly - retrofitting an Xbox with new technology is going to degrade the sensitivity. I own an Xbox and a Wii, the Wii was designed with motion capture capabilities in mind and it still has flaws and issues. I just can't imagine the Xbox being able to maintain graphic quality and motion sensor without shocking the system
I'm going to wait for the reviews of how it works in a home setting. The company who developed this is known for overpromising it's capabilities. But I do love where gameplay is heading and this is a great step into the future of consoles.