At E3 this year, Microsoft announced the death of their long maligned Microsoft Points system, informing the gaming public they would be adopting whatever local currency you use instead. It was an excellent idea that was about five years too late, but hey, we’ll take it. If you are particularly eager to switch out from your Microsoft funbucks to real money, you can attempt to join the Xbox 360 Public Beta that started today. As reported by Major Nelson, this update is meant to not only end the use of Microsoft Points, but also improve the overall performance of Xbox Live. Space is limited, so if you’re interested it is probably worth heading over soon before the beta is closed. You can signup for the beta through your Xbox 360 home hub by accessing the Xbox Beta Program tile and following the instructions.
They already have an FAQ posted, presumably because they knew that there would be a million questions about how even though someone signed up, they didn’t get the update yet (as evidenced by the fact this question is asked six times in the first ten responses to the post despite the FAQ). If you are curious as to why the update hasn’t taken effect and couldn’t be bothered to spend the five seconds it would take to browse through the FAQ, the update will not be applied for one to two business days. This gives them enough time to process everything and for you to say your teary-eyed goodbye to your Microsoft Points before they translate into real money.