Well... Bill had Seamus Blackley come out and demo a couple of games, as described in the below PR. And then Bill and The Rock did a poorly rehearsed skit for a little while. The most comedic value for those hanging out at RHL came from Bill Gates' voice cracking once or twice, and the resulting good-natured puberty jokes. Still, the level of detail in the X-Box gaming demonstration wasn't bad for streaming A/V.
I have to admit that I'm intrigued by the idea of an Oddworld game in 3D (Munch's Oddysee). Malice was pretty dang comical, between the huge-ass hammer the little girl was bonking creatures with, Mario-style, and a gargantuan (and I mean gargantuan) robot getting its head stuck in the ceiling after imitating her jump. ;-)
Hopefully we'll get a look at the newest version of Halo at some point in the near future... I'm intensely curious to see what Blam! looks like now that they've doubled the polygon count on the characters.
This last bit was first caught by HBO: Microsoft has now pasted up a little flash animation to display the X-Box. It doesn't really show off any features, but it zooms in to let you have a look at what the device and its controller look like.