Chris Remo at Shacknews has the buzz:
Shacknews has learned from reputable sources who wish to remain nameless that Microsoft plans to introduce what seems to be a Windows gaming service called “Panorama.” Apparently, Panorama will be a part of Windows Vista and will act essentially as Xbox Live Arcade for Windows. PC gamers will be able to not only play Live Arcade games, but will also be able to engage in multiplayer gaming versus gamers playing on the Xbox 360 version of the service.
There’s more by following the link including Microsoft merely confirming that something called Panorama exists (with no further details) and speculation that Microsoft might announce it next week at Gamefest. There’s also a pointer to the blog of Microsoft’s Andre Vrignaud where he says that Panorama is just a codename for the first stage of Microsoft’s Live Anywhere initiative which was introduced back in May and which is supposed to be more or less what is described.