Okay, just spent an hour or so with our new Kinect. My initial impressions:

It's definitely geared toward kids and casual adults. I got bored with the included minigames pretty quickly, just as I did with the Wii. I'm expecting to get more mileage out of something like Dance Central or that exercise one that's coming out soon.

If you're worried about space in your living room, good - be worried. As it is, I had to push our loveseat back by about three feet, and I still just barely had enough room. Bearing that in mind, I really don't want to show this thing to the kids, because they're going to want to play it every damned day. And moving the loveseat back where it goes is a PITA because you have to lift it so you don't get it caught on the edge of the living room rug.

The Xbox navigation with Kinect is kinda neat, but I'm not going to move my furniture around just to use it. I'll stick with my tried and trued remote control or Xbox controller.

More thoughts to come...