Ok, so let's break it down then:
- $120 per year: $70 more than XBL Gold ($60 if you're up here in Ripoffland

)
- cross-game voice chat: currently free on XBL Silver
- exclusive downloadable content: as far as I know, Silver members can d/l all DLC that Gold members can on XBL. This seems like now they're not going to get the same shit they would have gotten otherwise.
- and a rotating list of free PlayStation and PSP Mini games: yeah, they're not free at all, but Gold member get the "Deal of the Week" on XBL DLC and XBLA titles. +1 for Sony
- Buyers will also get access to exclusive game demos: same as XBL Gold
- extended warranty coverage on their hardware: skeptical about this (I'm sure it's the big reason for the steep price tag), but I'll wait and see.
- an automated service for downloading game patches: free on XBL Silver
So far it seems like making people pay for most of the shit that's free on XBL anyway. And they made no mention of dedicated server support like Microsoft offers with its online play. Right now, it's still up to the developer to provide the servers (which drives up game costs and gets passed on to us, BTW.