One of TechPowerUp's editors attended a trainee session for Xbox360 Promoters and had the chance to talk to Microsoft's Product Manager for Austria. He heard some new things about the Xbox 360 Webcam, Parental Settings and the Remote Control.
The "ring" around the power button is divided into four parts. That we know. We also know that the ring is capable of lighting up in different colors. But here are two cool examples:
To connect a wireless joypad to the system, one hits the round button next to the memory ports, this results in the ringlight to rotate around the powerbutton. Then you hit the Xbox 360 button on the wireless joypad, and the light around that button starts to rotate as well, until the console and the pad have "found" each other, and are connected. That has two clear advantages: you can have multiple consoles next to each other, and they will not interfere with each other's pads and you can connect a new pad at any time..