Very disappointed that MS caved on the 24hr check-in. Losing killer, truly next-gen, features like Family Sharing, and possibly borking others like Smart Match. I would have prefered that MS waited for people to vote with their wallets at launch than to assume that the people raging the hardest on the Internet represented the majority of customers.
Some say that MS over-reacted by discontinuing the family sharing. But since over reacting is exactly what the internet did, can't say I blame them.
The door is still open for family-sharing to come back for digital-only purchases but it probably won't be at launch. I think MS would be more than happy to let Steam stick their neck out their first and take any backlash if it's not a smooth experience.
Edit: Don't believe the rumors that family sharing was only going to be a one hour demo:
Aaron Greenberg - Chief of Staff for Interactive Entertainment Business at Microsoft
Marc Whitten - Corporate Vice President, Xbox