It's here. It's alive. It's packed to the brim with features, and it's called Xbox One.
So why do we love it already? Why give you one reason when we can give you 10?
1. It's adaptive in the best way possible
Before the big reveal, we were worried that the new Xbox would be too focused on multimedia and not focused enough on the games.
While the reveal show was mainly about hardware and features, there was enough game talk to keep us happy for the time being.
Microsoft Studios announced that it has 15 exclusive titles coming to Xbox One over the next year, eight of which will be brand new franchises.
We also got a look at the range of new EA Sports titles coming out way, including Fifa 14 and Madden 14. Call of Duty: Ghosts also got its world premiere trailer, showcasing the brand new engine.
The One is certainly changing with the times, but it doesn't feel like the gamers are losing out as a result. And guess what? It doesn't require an 'always on' internet connection to play. Phew.
2. TV and film just got better
TV integration is one of the killer apps of Xbox One, and we were suitably impressed with what Microsoft had to show off at the Redmond event.
The Instant Switching feature lets you change between programmes and live TV with ease, while Snap Mode lets users run more than one service at any time. You can check your emails while watching a movie, for example.
All in all, Microsoft's new console is perfect for a generation of 'second screen' users and offers itself as the ultimate multimedia device for our living rooms.
3. Voice control
Xbox chief Don Mattrick had our attention from the moment he said "Xbox on" to power up the console, but it didn't stop there.
Voice commands can be used to navigate between TV viewing and gameplay on the console. For example, you can say "watch TV" to, yup, you guessed it.
Overall recognition has been greatly improved, while hand gestures can also be used as a form of control.
4. New Kinect
Xbox One Kinect is "rocket science-level stuff" according to Microsoft. We knew Kinect would be baked into the new console and we're impressed with how far it's evolved.
The new sensor is vastly improved with an extra wide field of vision meaning more people can get involved. The new Kinect can better analyse your body movements, picking up motion in just 13 billionths of a second, and can even detect your heartbeat.
It also has a 1080p camera to make that picture sparkle on your HD TV. Can't argue with that.
5. Exclusive content
One thing that kept coming up during game discussions was exclusive content that would be coming to Xbox One users firtst.
EA Sports announced that exclusive content for Fifa 14 will be coming to Xbox One, adding that it had formed a "special relationship" with Microsoft.
It was also announced that DLC for the upcoming Call of Duty: Ghosts will also be exclusive for Xbox One at first. These exclusive deals will be a huge pull for the hardcore gamers.
6. The controller rocks
With no console to show, the PS4 announcement was very focused on the controller, which it had a lot to say about as it turned out.
The first thing that struck us about the Xbox One controller was that it's keeping with a winning formula. Not a lot has been changed: the D-pad has been tweaked and the Xbox home button has been pushed up.
But all in all, the design holds onto all the best features of the 360 controller with just a few small changes that should make it feel even more amazing in our hands.