An anonymous reader writes: During Microsoft's CES keynote, Bill Gates and his cohorts announced the new Microsoft TV IPTV Edition and demonstrated some of its more compelling features. At the end of that segment, the Microsoft presenters let us know that their IPTV demonstration was performed on an Xbox 360. The audience cheered. They cheered because they assumed you could use an Xbox 360 to deliver any old IPTV content to the television. You can't. It only works if you subscribe to an ISP that provides services using Microsoft TV IPTV Edition. Even then, you can only watch that provider's content, not any old TV show streamed over the Internet.