Microsoft may of canned 1 VS 100 captured but for many people that they have abadndoned live episodic games on Xbox Live as of this time. Instead it appears to be they are creating a second go and they are now beta testing a different game show, Full House Poker, which features a method of Hold'em called Texas Heat.
Avatars is going to be used to represent players available and will have unique tell signs. There will be new accessories for ones avatar to sport too. (Maybe a Full Tilt hat?)
Players play for experience points and chips in addition to their overall progress and bankroll will likely be saved between sessions. Full House Poker can even feature a leaderboard to help you compare your card shark skills here for your buddies.
I think it will be a great incentive in case 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 resulting out yet, but I would not be surprised to determine it out by next Summer.