Microsoft has begun rolling out the previously little-known-about Xbox LIVE Rewards program. It was first mentioned a couple weeks ago promising only "cool stuff".

Now it appears that "cool stuff" means Microsoft Points. It began when I got an e-mail moments ago, saying I had been chosen to participate in the program. It is worth noting that I'm only a Silver subscriber, so it appears the rewards are available to any Xbox LIVE member who had replied to the original e-mail, regardless of how much you have contributed to their solid gold swan fountains.

Clicking the link in the e-mail takes you to a table (included in the gallery) listing the currently available benefits for the program. Essentially, by making a purchase or subscription from Xbox LIVE (such as renewing Gold memberships, subscribing to NetFlix, or making your first purchase from the Marketplace), you will net some free points.

Which is nifty, I suppose. The page also specifies that "This promotion lasts for six months and you can start spending the points you’ve accumulated after the first three months."

So, what do you think? Does the uber-exclusive feel of the Xbox LIVE Rewards program live up to the hype?