Update – 4.42pm: This story is moving very quickly and there are more guesses and reporting of the initial rumors than anything else, but it does seem that Microsoft is updating the Xbox One’s FAQ page. The company specifically mentioned that the updates — which are not available yet — are “a result of feedback from the Xbox community.” It’s looking like the update will live here, once it goes live.Update – 4:51PM: http://news.xbox.com/2013/06/update. It’s confirmed. The Xbox One will have no always-on/check-in requirements and it will work with disc-based games exactly as the Xbox 360 does. That means gamers will be able to buy, sell, and trade games with no new policies to negotiate.A rumor is circulating that Microsoft has decided to reverse its decision to both require an Internet connection to use the Xbox One and restrict game sharing and trading.We can’t stress enough that this is just a rumor, but one coming from respected games website GiantBomb.If true, it would mean that the Xbox One would become just like the PS4 and current-gen machines. You would need the game disc in the drive in order to play a game, but no Internet connection would (ever) be required outside of Xbox Live access. You could also share your game discs with friends, or trade them at retailers without that retailer needing to sign up for Microsoft’s used games transfer system.Such a move would obviously be a major embarrassment for Microsoft. Making this huge change so soon after E3 would surprise just about everyone. The company’s executives and public relations department have been reinforcing and defending the decision as to why an always connected machine is such a good, and future-proof move ever since.All that would just stop and a new line would have to be taken, probably defending the decision to change course. It would also play into the hands of Sony who would have a field day with their PS4 marketing.And then there’s the kicker. Even if Microsoft did reverse course and remove the restrictions, they’d still be left with a console that’s $100 more expensive than the PS4 and $150 more than the Wii U.