It's still out there, but it's kind of struggling to keep itself going. It's a shame to because I really did (and do because I still have it on my computer) enjoy it. I wish it had gotten bigger because it really offered some very intuitive ideas...
It allows you to buy trial just about any game for 30 min, instantly before buying and you can replay that trial as much as you like. It has the arena where you can watch people, including friends, play and then rate them on performance. You can rent games for 3-days, 5-days, or just buy it at a discounted price. And finally, the feature I like most is the Brag Clips. After you do something extremely cool that you want to save, you push a button and it records the last 10 secs of your gameplay. Then you can view the most recent or highes rated clips in the theater. All in all, I really liked the service and people do still play it.
Also, developers are still making games for it. Last I saw, they had AC: Brotherhood, Homefront, Batman AA, Splinter Cell, and about 100 more. Only problem is you don't get ALL of the games that would come out for consoles.
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