Use money instead of points on Xbox live...

So I got an email this morning saying that with the next system update, Microsoft will be replacing MS Points with real currency. Personally I think this is great as it'll mean I'll know just how much money I need to buy DLC or something rather than having to spend money for more points than I actually need (and in most cases use)


But that's just me, I'm interested to know what you all think about this as well.

The Xbox Live Team wrote:Transactions on Xbox will soon take place using your local currency instead of Microsoft Points. This change will make it even easier for you to access and enjoy the games, apps, HD movies and TV shows, and other great content you love on Xbox!

After the next Xbox 360 system update, when you next choose to initiate a purchase or redeem a Points card or code with your Microsoft account, we’ll put into your account an amount of currency equal to or greater than the marketplace value of your Microsoft Points. Your Microsoft Points will be retired, and you’ll immediately be able to use your new funds, in addition to other current payment methods available in your region, to purchase content from your favorite Xbox stores – or the Windows Phone Store on Windows Phone 8. For your current Microsoft Points balance, go to http://www.xbox.com/account. 

Xbox Gift Cards (denominated in your local currency) will be available through our online retailers’ websites and in local retail stores starting in late 2013, and can be added to your Microsoft account at that time. In the meantime, please continue to purchase and redeem Microsoft Points cards and codes – we’ll accept them until further notice. The funds we put into your account at the time of the transition will expire in June 2015. Microsoft Points codes you received as part of Xbox Live Rewards, promotions, or contests will retain their original expiration dates after your account transitions. 

For more information on the transition and what to expect, please visithttp://www.xbox.com/pointsfaq. 

Sincerely,
The Xbox Live Team

I feel same as you with that one, hate it when I am 10 points short then have to fork out for 800 points

Something I forgot to mention as well is the price of the current points bundles. (Thanks Chucky for reminding me ) As someone without a source of income, I tend to find that buying points isn't always worth it due to how much they cost. It's largely the reason I don't own all the Forza 4 DLC. 
Car packs for forza are.. what? 560ms points on average? The lowest bundle you can buy is 500ms points and that costs about £4 (I don't know off the top of my head) so your then forced to buy the next bundle which is around the £8 mark which gets you a 1000ms points but out of that 1000 you can still only buy 1 car pack, and you then have to spend more money on more points for another pack. 
All just seems a bit expensive to me and no one like to spend more money than they need to.

The big question is, what happens to MSP already in your account? Do they just change to the appropriate currency?

I think so, the email wasn't exactly clear, it says about when redeeming points from cards and stuff that either an equal or greater amount will be added to your account, I can only assume they'd do the same thing with points already associated otherwise they'd have a very unhappy community to deal with

I've got the beta of the dash update and what Microsoft did was convert my existing points to cash (they used their own prices for the conversion rate so you if you can get points cheaper than what Microsoft sell them you'll make a bit of money).

The new system has it's pros and cons, like mentioned above you know exactly what you're spending, but using points I kind of forgot I was spending money, now seeing how much stuff actually costs I think I'll probably buy less than under the points system.

Is the beta open or closed? wouldn't mind trying it out myself. 
I know what you mean though, X amount of money here gets you X amount of points there to buy stuff with without really having to consider just how much it is, for me though, I think the new system will be better as I like to know exactly how much I'm spending on stuff etc.

Yeah, with the points you have a rough idea of what you're spending but it's strange seeing how much you're actually spending on top of the £40 or more you've already paid for a game, definitely an improvement though in my opinion.

It was open, there was a link to it on the dashboard unlike other updates which you had to register for on the Microsoft website. I think its been taken down now so they probably have enough participants.

That'll be what I like about it most, knowing how much I've spent

Ah right fair enough, has anything else been changed in the update or is just the MS points to currency conversion?

Nothing else has changed as far as I can tell, just the points to currency.

i got this email as well, they said (not in the email) that with the Xbox One, they'd be using currency for the marketplace, like playstation instead of MS points, with as you guys have said, is so much better and convenient, and all the points we have now, will be converted to our local currency, which we can spend come September 1 after the new update.

I didn't know though thats what the plan for Xbox one was, must of missed that lol but awesome. Is September 1st when the update is due then?

i believe so yes

That's not too bad then