Update: While some Xbox LIVE games do allow you to save the game to your profile, reports suggest this is a feature which has been live for quite some time and not as suggested the cloud based service which MS announced at E3. It seems that feature is not live and won’t be until the new dashboard update later this year.
We will update you if we learn anything further.
Original: Microsoft has implemented cloud storage of profiles and game saves into Xbox 360, although according to Eurogamer it currently only works with certain Xbox LIVE Arcade games.
The new cloud storage means you can sign into your profile from wherever you are, giving you instant assess to you Microsoft Points, Achievements and friends as well as your game saves.
We are unsure if saves for retail games will be included in the service in future.