Microsoft may of canned 1 VS 100 captured but i am not saying that they have abadndoned live episodic games on Xbox Live yet. Instead it seems like they are passing on a second go and are also now beta testing a brand new game show, Full House Poker, which features a layout of Hold'em called Texas Heat.
Avatars will probably be used to represent players shared and will have unique tell signs. There will be new accessories for the avatar to sport also. (Maybe a Full Tilt hat?)
Players play for experience points and chips and overall progress and bankroll are going to here be saved between sessions. Full House Poker may also feature a leaderboard in order to compare your card shark skills in your buddies.
I think it may be a great incentive in case you could win MS Points or XBLA games as prizes for going to date in the tournament, but that is just me wishful thinking...
No word on when exactly Full House Poker is originating out yet, but I may not be surprised to find out it out by next Summer.