Microsoft may of canned 1 VS 100 recording but i am not saying that they have abandoned live episodic games on Xbox Live as of this time. Instead it appears to be they are passing it on a second go and therefore are now beta testing a whole new game show, Full House Poker, which features a layout of Hold'em called Texas Heat.
Avatars will likely be used to represent players up for grabs and will have unique tell signs. There will be also new accessories for the avatar to sport likewise. (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 likely feature a leaderboard to help you compare poker rules reraise your card shark skills for a buddies.
I think it could be a great incentive should 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 find out it out by next Summer.