I like the Xbox approach to the motion tracking over the Playstation because they've just copied their concept from Nintendo. It feels they've actually gone more ambitious and come up with something new at Microsoft. Only flaw is they lack buttons, but nothing stops them adding separate button controllers though, but I guess the whole idea is the full body control. Nothing stops the games using both the normal controller and the camera tracking system either.
Not saying I don't think this motion craze as a bit off a gimmick, I don't see much wrong with the 360 controller as it's one of the best there has ever been, it just fits. But I guess the 'casual gamers', which seems to be one of the main themes with pink and girly stuff at this years E3, all have trouble with controllers because they got too many moving parts.
Nintendo hit a gold vain, now the rest follow.
And the name is still probably just a project codename I think.