Microsoft has posted a software update to the Xbox 360 today, finally and effectively ending the terror reign of Microsoft Points, finally converting them into local currencies. All those leftover 80 points will now be leftover 1 dollars.
The update is quite quick, and there will be no visible change in appearance to the dashboard aside from prices being listed in dollars instead of points.
When you go to buy a game for the first time, the store will convert your current points into dollars. You have until June 1, 2015 to convert your points. Players can still buy and redeem Microsoft Point cards and those will be converted as well upon entry. Later this year (guessing around Holiday season), Microsoft will be offering Xbox Gift Cards instead.