The once glorious, now marginally relevant E3 videogame conference is underway in Los Angeles this week, with a few nuggets of interesting news related to the business of digital entertainment sneaking out.

- Utilizing its signature motion-capture controls, Nintendo took the wraps off its "Wii Music" game, which the company said will be its premier holiday title. Details remain rather slim at this time, but the game does seem to be a departure from classic guitar-simulation games like "Guitar Hero" and "Rock Band." The Wii version allows users to play one of some 60 choices of instruments, and use motion-based actions to simulate playing to pre-defined songs rather than trying to press buttons to the rhythm of the track.

- Microsoft and Sony showcased the ability to stream movies and TV from their respective consoles. The Xbox 360 version will allow users to stream some 10,000 movies and TV shows available from Netflix for no additional cost, starting later this fall. PlayStation3 and PlayStation Portable users will get the ability to buy and download movies from the PlayStation Store, with some 300 movies and 1,200 TV episodes available at launch. Pricing ranges from $3 to $6 for rented temporary downloads, and $10 to $15 for permanent ownership.

- Both Microsoft and Sony also announced new versions of their consoles. Sony introduced a new 80 GB version of the PS3 for $400, following Microsoft's weekend announcement of that it is cutting the price of its 20GB Xbox 360 console by $50, to $300 and introducing a new 60 GB version this August for $350.