X360 backward compatibility

Microsoft announced recently that 212 of their 713 Xbox games will work on the Xbox360 at launch. I know how much work it is to get backward compatibility to work properly, so props to the guys who are working on it.
It’s too bad that saved games won’t be transferrable to the X360, though! And that you need to have a hard drive to use backward compatibility at all.
Here’s an interview with Microsoft’s Todd Holmdahl about it, in case you haven’t already heard.