I actually won my Xbox 360 through a "Once every hour" promotion by Pepsi prior to launch. Received the system ahead of time. Played that contest like crazy since they would give you a free code every hour after completing a survey.
I'm sure some others from Canada GAF will remember that.
Won my Xbox 360 October 22nd, 2005 at 2:30 am. Barely slept until I won.
It sounds like the auctions will only happen at night, with one ending every two minutes during the nightly auction timeframe. The FAQ is pretty interesting, with the different prize tiers. The strategies for when to bid how many points should provide entertainment.
Ah, this takes me back.....to not winning a 360 and having to stand in the cold in front of BestBuy over night for the Nov. 18th relaunch. Maybe this time the wife and I will be lucky. Already won a WiiU!