Come this fall, say goodbye to the plain old Video Marketplace on your Xbox 360 and say hello to the new Zune Video Marketplace.

Microsoft's Director of Digitally Distributed Games Scott Austin gave us a walkthrough for the service (which was announced at E3) at Tokyo Game Show this week. While it shares a lot in common with the current marketplace, it has more than a new, dark look (shown above) to match the the new Zune HD device.

Of note is that the Zune Video Marketplace offers up streaming in 1080p where connections allow. We saw Austin use the marketplace's new search function to find The Fast and the Furious: Tokyo Drift. With servers in America and the system streaming from the Japan, the initial video streaming was in a low resolution that might make most videophiles barf. But as the stream started to catch up, the video transitioned to a crystal clear image in no time. 

We were told that all of the current Video Marketplace content currently available, including movies and television shows, will be available on the Zune Video Marketplace when it goes live. Depending on the content, it will be available in both "rent" and/or "own" formats, with most purchases being available for viewing on three devices -- your Xbox 360, your Zune HD, and your PC with a Zune client. 

The Zune Video Marketplace will be available on your Xbox 360 this fall, so start writing your eulogies for the Video Marketplace now.