Works exactly as intended. Process is fairly speedy. Will tell you how to transfer over licenses from your old console to your new one. HOWEVER* If you have transfered your licenses within the last year (as I have had to do when I purchased a new console) it will not let you do this again. This is my third console, so I've transfered licenses once before. If you're like me you'll have to be on Xbox Live to use any DLC, Games, etc that you've purchased. Because it did not mention this anywhere with this kit I assumed if you bought it you could transfer them over regardless. Nope. The transfer process still goes through xbox.com and you can still only do it once per year. If you can always connect to XBL this isn't a huge problem. However it still transfers pretty much everything (the only thing it didn't transfer for me was "Optional Media Update" which will download again as soon as you go to play a movie or something, and it's free)