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Xbox 360 System update now available (no new features)
A few minutes ago, the team released a system update for the Xbox 360 over Xbox LIVE. Sometime over the next few hours when you sign in to Xbox LIVE you’ll receive a prompt to accept this mandatory update. This update contains code to ‘prepare for future growth of the service.’ There are no other changes or enhancements in this update…in other words no new features. The next obvious question you’ll have is about the Spring update. At this point we have nothing to announce, and the moment there is information to share I will do so.
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Source: Robin Hoods Playground • View topic - Xbox 360 System update
With no new features added and GTA IV 10 days away, it should be obvious why people may want to hold off on updating before more information about the specific contents of the update becomes available. If anyone applies the update and can still successfully boot backups, please post and let us know.