Microsoft may of canned 1 VS 100 recording but that does not mean that they have abadndoned live episodic games on Xbox Live yet. Instead it seems they are creating a second go and therefore are now beta testing a different game show, Full House Poker, which features a topic of Hold'em called Texas Heat.
Avatars will likely be used to represent players available and will have unique tell signs. There will be also new accessories for ones avatar to sport also. (Maybe a Full Tilt hat?)
Players play for experience points and chips in addition to their overall progress and bankroll will probably be saved between sessions. Full House Poker will even feature a leaderboard in order to compare your card shark skills in your website buddies.
I think it will be a great incentive should you could win MS Points or XBLA games as prizes for going thus far in the tournament, but that is just me wishful thinking...
No word on when exactly Full House Poker is on its way out yet, but I couldn't survive surprised to view it out by next Summer.