Onlive is “utterly ECSTATIC” to announce that its OnLive Game System is finally available for pre-order; shipping starts on December 2. Aside from its  quality and state-of-the-art specs, its also surprisingly economical with a price tag of $99 plus a free game of your choice.

When you purchase the system, you’ll get a The MicroConsole TV adapter (the “MC”), an OnLive wireless controller and a complete set of cables you’ll need for your HD television. Completing the entire set-up process, from plug-in to log-in, takes less than 3 minutes, according to beta users.  It will take approximately 15 seconds to log in and 2 seconds to start a game. Games are instant, as is the conversion from trial to rental (or full Playpass), and watching live game play is also instant. Its specs include:

* 1080p60, 3D TV-compatible. HDMI or component video.
* Digital audio, surround sound. HDMI or optical.
* Ultra-low latency wireless or wired controllers. Up to 4 controllers at once.
* Bluetooth or USB headset-compatible. Both in-game and out-of-game voice chat.
* Silent and fan-free. High-octane gaming at just 6 watts.

“This is a big day for OnLive. It’s the culmination of more than 8 years of hard work by many people, both at OnLive and at our partners, to realize a dream that so many people said was impossible. My hat’s off to the team for their dedication and sacrifice to reach this incredible achievement. It has been an honor to work with everyone who made this dream a reality,” said OnLive Founder and CEO Steve Perlman, “On behalf of the OnLive team and our partners, it is our great pleasure to share our work with you. It’s our sincere hope that it BLOWS YOU AWAY.”

The game system was tested with all kinds of gamers and hand sizes for ease and comfort, as well as exclusive media controls such as Brag Clip videos.

It’s cloud gaming so it’s a big deal in its competition with Microsoft xbox 360 and Sony PlayStation. Microsoft’s relying on the cloud to improve its gaming as well, especially around Kinect.