The XBOX press conference at the Game Developer's Conference just ended. Microsoft already has a press release ready. The highlights:

• Gears of War 2!! Coming this November. Continues the story of Marcus Fenix and Delta Squad. Developed by Epic Games exclusively for the XBOX 360.
• Fable 2: In addition to the dynamic co-op mode unveiled onstage, Peter Molyneux also announced that Carbonated Games is bringing the “Fable 2” experience to Xbox LIVE Arcade. Before the game’s launch, gamers will be able to get an early taste of the “Fable 2” experience and gain a head start on earning currency for use in “Fable 2” by playing “Fable 2”-themed pub games that will be downloadable via Xbox LIVE Arcade. The currency earned in these Xbox LIVE Arcade titles will enable players to purchase items in “Fable 2” when the game launches later this year.
• XNA games playable on the Zune.
• Ninja Gaiden II: Coming early June, with Ninja Cinema on Xbox LIVE. Tomonobu Itagaki debuted several tantalizing new Xbox LIVE features of “Ninja Gaiden II,” including the ability to capture and share videos of a player’s glorious battles via the Ninja Cinema feature and upload them to Xbox LIVE. “Ninja Gaiden II” launches worldwide this June.
• Xbox LIVE: 1 billion achievements earned!
• Xbox LIVE Arcade: New games coming include Braid, Castle Crashers, Defense Grid: The Awakening, Go! Go! Break Steady, and Penny Arcade Adventures: On the Rain-Slick Precipice of Darkness.
• XNA Community-developed games: By the end of 2008, Xbox 360 owners will have access to more than 1,000 community-created games. The first seven are available to download now from Xbox LIVE Marketplace: JellyCar, Little Gamers, Dishwasher, TriLinea, RocketBall, ProximityHD, and Culture.