Technical specifications for the 360 motion sensor Kinect have hit the net.
As far as requirements are concerned, to use the device you'll need an Xbox 360 (obviously) and any will do as long as it has 175MB of storage for drivers and other software, and a single USB port.
As for Kinect itself, here's the geeky stuff and what it allows the sensor to do:
Kinect Technical Specifications
Colour and depth-sensing lenses
Voice microphone array
Tilt motor for sensor adjustment
Field of View
Horizontal field of view: 57 degrees
Vertical field of view: 43 degrees
Physical tilt range: 27 degrees
Depth sensor range: 1.2m - 3.5m
320x240 16-bit depth @ 30 frames/sec
640x480 32-bit colour@ 30 frames/sec
16-bit audio @ 16 kHz
Skeletal Tracking System
Tracks up to 6 people, including 2 active players
Tracks 20 joints per active player
Ability to map active players to Xbox LIVE Avatars
Xbox LIVE party chat and in-game voice chat (requires Xbox LIVE Gold Membership)
Echo cancellation system enhances voice input
Speech recognition in multiple languages
We got our hands on the Xbox 360 Slim at E3 and reviewed it's sleek curves just for you.
You'll be able to test Kinect for yourself when it comes to HMV and Game stores up and down the country soon.