Microsoft may of canned 1 VS 100 trapped on tape but that does not mean that they have abandoned live episodic games on Xbox Live at this time. Instead seems like they are doing it a second go and they are now beta testing a whole new game show, Full House Poker, which features a layout of Hold'em called Texas Heat.
Avatars will likely be used to represent players up for grabs and will have unique tell signs. There will be also new accessories for the avatar to sport too. (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 can even feature a leaderboard in order to compare your card shark skills in your buddies.
I think it will be a great incentive when you could win MS Points or XBLA games as prizes for going until now in the tournament, that is just me wishful thinking...
No word on when exactly Full House Poker is originating out yet, but I couldn't survive surprised to view here it out by next Summer.