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As more details on Microsoft’s newly announced Xbox One filter out, we'll bring you the ones that matter.

The company tossed up a FAQ up to address some pressing questions.

I’ve highlighted the most important answers below, which address the rumors about Xbox One being an “always on” console, the transferring of gamerscore and achievements, backwards compatibility, and if used games are a thing anymore. There aren’t great answers to the first and last questions, unfortunately, but that’s where we’re at right now.

Q: Does Xbox One require an “always on” Internet connection?

A: No, it does not have to be always connected, but Xbox One does require a connection to the Internet. We’re designing Xbox One to be your all-in-one entertainment system that is connected to the cloud and always ready. We are also designing it so you can play games and watch Blu-ray movies and live TV if you lose your connection.

Q: Can I use my current gamertag on Xbox One and will my Gamerscore and Achievements transfer?

A: Yes. Your current Xbox Live Gamertag will stay with you on Xbox One if you choose to keep it, and your hard-earned Gamerscore and Achievements will indeed carry over from Xbox 360.

Q: Will Xbox One be backward compatible with my existing games?

A: Xbox One hardware is not compatible with Xbox 360 games. We designed Xbox One to play an entirely new generation of games—games that are architected to take full advantage of state-of-the-art processors and the infinite power of the cloud. We care very much about the investment you have made in Xbox 360 and will continue to support it with a pipeline of new games and new apps well into the future.

Q: Will Xbox One allow players to trade in, purchase and play pre-owned games?

A: We are designing Xbox One to enable customers to trade in and resell games. We’ll have more details to share later.

We also know Xbox Live will now support up to 1,000 friends, a far cry from the current service's 100-person limit.

Additionally, Engadget reports the machine will come with a 500GB hard drive that is non-replaceable, but the USB 3.0 slots can be used for external storage.

If you were coming into today's Microsoft press event primarily expecting to see new hardware, new media content, and a lot of sports things, then you probably came away pretty excited about the Xbox One.

Microsoft unveiled the new console today to a crowd of press in Seattle, WA, assigning the new console its singular name, offering up basic specs and new app and hardware features, as well as a small selection of games from both internal and 3rd party publishers. Here's a brief rundown on what we saw:

The Hardware:

The Xbox One includes:

• An 8-core CPU
• 8GB of System Memory
• A Blu-ray drive
• 500GB HDD
• Built-in Wi-Fi
• HDMI In/Out portsW

While these stats were touched on, Microsoft was far more keen to show off its new interface and media support innovations. Much was made about "Snap mode," a feature that lets you jump between multiple running apps by with simple voice commands. The demonstration showed that you could jump between a video game, web browsing, and live TV, among other things, just by calling out the relevant application.

Yes, live TV was a big focus of the presentation as well. Confirming previous rumors, it was revealed that the Xbox One will allow you to hook your cable connection directly up to the box, and jump between the live TV and in-system apps with relative ease.

In addition to the core hardware, the Kinect hardware has seen a significant technological bump as well. The new Kinect features a 1080P HD RGB camera (which can be used for Skype calls), 30 FPS color, and an increased field of view. It will be bundled with all new Xbox One devices.

Sports!

Sports got a big push in today's presentation, both in live and in video game form. On the video game front, EA Sports announced a special partnership with Microsoft to bring its upcoming slate of sports titles to the Xbox One within the next year. Games included Madden NFL 25, its upcoming UFC sequel, the (again) revived NBA Live 14, and FIFA 14, the last of which will include exclusive Ultimate Team content on Xbox One.

In the live sports arena, Microsoft has entered into an agreement with the NFL to bring live game broadcasts, as well as fantasy sports content, to the system.

Halo: The Series

One of the more unexpected moments came when the event cut to Steven Spielberg, who, via video, announced that he would be partnering with Microsoft to bring a new Halo TV series exclusively to Xbox One. His exact role on the project was not detailed, nor was any potential production date for the series.

Remedy and Forza

Remedy Entertainment, the developer behind the cult Xbox 360 favorite Alan Wake, showed off a brief, baffling trailer for its new Xbox One exclusive game, Quantum Break. The trailer mixed live action footage of a mother and her strange little girl, and presumably in-game (or at least pre-rendered) footage of a large ship crashing into a bridge, and then suddenly rewinding. More about the game is expected to be revealed at E3.

Microsoft also unveiled the expected, but certainly not unwelcome Forza Motorsport 5. After all, what would a next-gen console reveal be without exquisitely rendered video game cars?

Call of Duty: Ghosts

As expected, bulk of the show's end was dedicated to Activision's upcoming Call of Duty sequel, Ghosts, which will feature exclusive downloadable content on Xbox One. Ghosts, which is in development at Infinity Ward, features a script from Traffic and Syriana screenwriter Stephen Gaghan that follows a single soldier...and his trusty dog. Yes, much ado was made about a Navy SEAL dog buddy you'll have working alongside your character throughout the game. This dog was motion-captured, even, and will help out as a sort of companion A.I.

What Came After

Beyond the above, little else was learned at today's event, outside of a claim of 15 exclusive games scheduled for the system's first year, and a nebulous "later this year" release window. However, more information has been coming since the event ended, including additional games and a few answers to some lingering questions.

On the subject of backward compatibility, Engadget is reporting that the Xbox One will not play Xbox 360 games, nor digital games built for the 360 architecture. However, as small consolation, gamertags and scores will carry over to the new system.

As for the system's much-talked-about, but previously unconfirmed "always online" functionality, Wired's report on the console states that the system won't always be online. However, developers could make use of Microsoft's Azure cloud computing service, which could present situations where the system would have to be online.

That doesn't quite answer the lingering question of how the Xbox One might handle used games. The Wired article notes that games can be installed to the system, and may have to be. For games that have been previously installed, second players would be prompted with a note saying they could pay a fee to add their account to the game and install it. However, Microsoft wouldn't make a complete declaration about whether or not other players would ever be able to ever play a used game without having to install/pay an additional fee.

Lastly, multiple third-party games have been announced as coming to Xbox One, including Square-Enix's upcoming Thief remake, as well as Ubisoft's Assassin's Creed IV: Black Flag and Watch_Dogs.

We'll bring you more on the Xbox One as it becomes available.