That I'm not sure, Jaymo.

Booting up for the first time with Gears of War, it boots up like a 360, then at least for the first time, it goes to a loading screen that says "Getting your Xbox 360 info..." Then it loads right into the game.

Pressing both middle buttons on the controller brings up the 360 guide. I can view my friend's list, start a party, chat, manage storage, view my achievements and rewards and then make changes to my profile and preferences.