Microsoft may of canned 1 VS 100 trapped on tape but for many people that they have abadndoned live episodic games on Xbox Live as of this time. Instead it seems like they are doing it a second go and are also now beta testing a whole new game show, Full House Poker, which features a topic of Hold'em called Texas Heat.
Avatars will likely be used to represent players revealed and will have unique tell signs. There will be also new accessories for ones avatar to sport at the same time. (Maybe a Full Tilt hat?)
Players play for experience points and chips in addition to their overall progress and bankroll will probably be saved between sessions. Full House Poker will likely feature a leaderboard so that you can compare read more your card shark skills on your buddies.
I think it might be a great incentive in case you could win MS Points or XBLA games as prizes for going until now in the tournament, but that is just me wishful thinking...
No word on when exactly Full House Poker is on its way out yet, but I may not be surprised to find out it out by next Summer.