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Interestingly, the Game Room will carry a two-tiered price structure. You can buy a game for between 240-400 Microsoft Points, or if you really want that old arcade feeling, you can pay 40 Microsoft Points and play the game once, like it was 1985 and you'd just dropped a quarter. Only, now it's two quarters.
It'll be out in the "Spring", and from here on we'll stop calling it "Xbox Game Room", as it'll be available for the PC as well.