I have no idea how reliable this report about XPass is, but it all sounds plausible from what I've read elsewhere. Basically, at least initially, people staying at the most expensive hotels will have an option to pay more money to be able to book FPs in advance, get special parade seating, and get special electronic interaction throughout the park.
http://jimhillmedia.com/editor_in_c...cting-to-have-a-very-merry-xpass-in-2012.aspx
Now, to me, deciding
today that I want to ride Space Mountain at 11 AM in December 2012 sounds like a nightmare. (And I LIKE planning!) But I guess to super-planners and/or WDW people, maybe it's appealing?