Microsoft may of canned 1 VS 100 captured but i am not saying that they have abandoned live episodic games on Xbox Live at this time. Instead it seems like they are doing it a second go and so are now beta testing a whole new game show, Full House Poker, which features a topic of Hold'em called Texas Heat.
Avatars are going to be used to represent players up for grabs and will have unique tell signs. There will be new accessories on your avatar to sport likewise. (Maybe a Full Tilt hat?)
Players play for experience points and chips as well as their overall progress and bankroll will probably be saved between sessions. Full House Poker will likely feature a leaderboard in order to compare your card shark skills for your buddies.
I get more info think it could be a great incentive should 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 determine it out by next Summer.