I don't care what features XBox Live has. If I have to pay a monthly fee to play online games on XBox Live, while I can play online games for free on Nintendo Wi-Fi, then XBox-Live is not the best online game service.
I had my doubts about Revolution when the controller was first revealed, but with the success of the Nintendo DS I think Nintendo may know what it is doing. I'll wait to see what the games are like before I decide to get one myself, but either way I think the Revolution will be a successful product. I think both Revolution and one or both of XBox360 and PS3 will be successful, catering to very different markets and not directly competing with one another (except 360 v. PS3), just as nintendo has predicted.