Well I knew about the Live Chat feature from E3, since that's when they announced it. But if you recall, I was wondering on some post how they were going to do it, since they hadn't announced a webcam at that time.
But the Sept. issue of EGM has a little blurb about the webcam Microsoft is coming out with. They said it should be out by the end of this year and gave the info about 5 people being able to be in the same chat.