This remote is sold separately, but is also included with the Xbox 360 HD-DVD player, which is really the only reason to own this remote as most people already have a stand alone DVD player.
The remote functions just as any DVD remote would, but includes the Xbox Guide Button at the top, a Windows Media Start button, and A/B/X/Y buttons which allow the remote to navigate the Xboxs' menu as the controller normally would. This is great for accessing videos stored on the hard drive or streamed from a computer.
Since it uses the IR sensor built into the Xbox 360, the remote can also be programmed to control your TV using the set of codes found on xbox.com. This is especially handy if you are just quickly turning on your console to start a download or watch a short clip.
Overall it is a handy remote for watching videos via your Xbox 360, and is LED backlit which is nice for watching things in the dark. The added TV functionality is a great feature, and since it is bundled with the HD-DVD add-on, it becomes another excuse to take the HD-DVD plunge.