Penello gives a clearer idea into how the new console functions, explaining the system's three power stages as "On is On. Off is Off. Standby allows 'Xbox On', quick resume, checking for updates, etc."
"[Standby] is the mode we'd like to see people in, obviously, so you get back to gaming or watching TV really quick. From standby, it's likely the Xbox will be on before the TV is completely powered up."
We've contacted Microsoft for details of how much time Xbox One takes to boot from its off setting, and how much power is required when leavin the console on in stand-by mode. We will update when more information is available.
Xbox One will launch Nov. 22 in most regions.