OnLive: Streaming games

OnLive is a service which touts that it will let you play all your regular games over the internet. So instead of having to worry about upgrading your graphics card or buying a new console, you can just play it live over the internet (watch the video).

Obvious concerns are lag and you are dependent on the service being up. And yeah, you would want to have really broad broadband -- in the Mbps range.

Ctrl-Alt-Del has a nice article describing OnLive. First heard of it from Penny Arcade.