1. General Etiquette
This is THE most important point: not only in the gaming industry, but with business in general. You need to know your gamers and treat them well. Gamers do not have unlimited funds to spend on gaming as the majority of gamers are casual. There have been reports that Microsoft is releasing two types of consoles: one cheaper version for casual gamers and one slightly more expensive version for hardcore gamers. This is definately a step in the right direction. However, Microsoft needs to take the long-term life of their console into account. Built-in features from the get-go might cost more, but if done right they can have a console that'll last for years. That is how you should be treating your gamers.
With games such as Grand Theft Auto V inbound, all you can do is hope that the Xbox version does not require 3 to 5 discs. This problem can no longer be fixed, but it can be prevented for future consoles given the lessons that have been learned during this generation. You can not help but attempt to envision what games would be like near the end of the PS4 and Xbox 720's life. Microsoft will need to predict how far they will need to go in order to meet that vision and perhaps redeem themselves from the difficulties that were experienced with the 360.