At the top of the social page, you’ll a group of tiles in the new Microsoft style we lovingly call Metro. Watch this spot for links to Xbox LIVE events, previews of the hottest new items on Marketplace, new video and game releases, Gamer Spotlight, and more. To the left of these are quick links that show you how many friends are online, and how many messages you currently have.
Below your avatar you’ll find handy links to common tasks, such as viewing your Profile, redeeming Xbox LIVE Marketplace codes, and checking your Download Queue. Now we get to the really fun stuff: The Friends Activity column shows you the popular games that your friends have been playing, who is playing those games right now, and who else has played them recently.
Microsoft is also adding the upcoming feature of Xbox Dashboard update called Beacons.
To set a Beacon for a title that you want to play with others, you’ll just find it in your activity list and click the “Set Beacon” button. You can have up to three Beacons active at a time, and you can optionally add a custom description (such as “From 7-10 pm Pacific” or “Horde Mode!”).
Click a title and you’ll be taken to a page that not only shows your achievements, but also which of your friends have also set Beacons for that game. Below the Beacons you can see anyone who’s online playing right now, and others who’ve recently played it.
Apart from these, there is a re-designed messaging section, new section where you can rent and buy videos from Zune marketplace.
You can find more details here.