The Microsoft E3 Conference starts at 9:30am PDT/ 16:30 GMT. (http://www.timeanddate.com/worldclock/converter.html to check your regional time if these do not apply)
The conference will be streamed by Gamespot on this page.
It will be held at the LA Convention Centre.
Microsoft will be announcing upcoming projects for Xbox 360 and Xbox One. This was done in the past to get interest for retailers to see what projects were coming up and then decide what stock orders they would place on units. However, this has become more and more an event to sell the games to us, the gamers. People are excited to see upcoming projects and what their favourite studios will be presenting (or they hope they will be presenting).
Last year Microsoft's gaming business, led by Don Mattrick released more details about the launch of the Xbox One system. This featured a lot of information about Kinect and future game launches such as Metal Gear Solid 5, Forza Motorsport 3, Quantum Break, Ryse, and much more.
Microsoft have got a reputation recently of pushing entertainment such as TV, social media, and other forms to use on their systems. They also seem to have been pushing their hardware as a family unit (with Kinect or Project Natal as it was known at one point) being seen as somewhat of a joke by some users.
Why should I care this year?
Phil Spencer has taken over from Don Mattrick (who left not long after E3 to take a role at Zynga). Phil has been around at Xbox since the launch of the original Xbox (remember all those new games and ideas, especially around the launch of the Xbox 360). Obviously some new titles may not be announced this year given these business deals can take time to put in place. But with a new leader, there could be new ideas and with the talk of this conference being more about the games, this could be a good time to push forward to potential of the Xbox One and also announce some titles for the Xbox 360 (Forza Horizion 2 being one such game).
There are many rumours running at the moment, including one that Halo will be getting a update for the Xbox One with a Master Chief collection (Halo 1 through 4 to Xbox One with upgraded visuals, and a separate release of Halo 2 HD). Also Microsoft have teased a Fable game for PC so there is potentially more surprises in store for us all.