Microsoft is looking to create a “YouTube for games” by distributing a
light version of its XNA development platform for free. Anyone with
some skill and desire will soon be able to create games that will run
on both Windows and Xbox.

This could be huge.

http://www.macworld.com/news/2006/08/14/xbox/index.php
http://www.garagegames.com/products/torque/x/