It seemed unlikely the Microsoft video leaked earlier today was an elaborate CGI fake, but hey, I like to be thorough. Microsoft entertainment and devices lead Robbie Bach took the stage at his company's CES 2010 keynote tonight, however, and confirmed the Xbox Live Game Room exists.
Game Room is a retro-themed environment for your Avatar to roam around and interact with classic games from Activision, Atari, Konami and others. More than 30 games will launch with Game Room (including Centipede, Asteroids Deluxe and Super Cobra), with more than 1,000 games over the next three years. Microsoft will bulking that list up by adding more games to Game Room on a weekly basis.
If you purchase some nostalgia in Game Room, it will be playable through both Xbox Live and Games For Windows Live. You don't need to purchase the game twice.
Additionally, Microsoft is incorporating both achievements and leaderboards.