Microsoft may of canned 1 VS 100 a few months ago but i am not saying that they have abandoned live episodic games on Xbox Live at this time. Instead it seems like they are doing it a second go and so are now beta testing a whole new game show, Full House Poker, which features a topic of Hold'em called Texas Heat.
Avatars is going to be used to represent players available and will have unique tell signs. There will be new accessories to your avatar to sport at the same time. (Maybe a Full Tilt hat?)
Players play for experience points and chips in addition to their overall progress and bankroll are going to be saved between sessions. Full House Poker will even feature a leaderboard so that you can compare website your card shark skills for a buddies.
I think it could be a great incentive when you could win MS Points or XBLA games as prizes for going thus far in the tournament, that is just me wishful thinking...
No word on when exactly Full House Poker is resulting out yet, but I may not be surprised to discover it out by next Summer.