The next generation system of Microsoft. First came the X-box, then the X-box 360 (event though the system isn't a circle) and so it is assumed by most people that next will be the X-box 720. It is a reasonable name for the next gen. of X-box.
Sometimes used as a joke when asked if going to buy a 360.
When you have to pee in a movie but don’t want to miss anything, and must do the following mental equation: will the amount I have to pee cause enough discomfort to diminish my attention capacity for the remainder of the movie to an extent which is greater than the amount of the movie I would miss by making a mad dash to the restroom.
I saw Satantango last night, wonderful film but by the 5th hour I had to start doing pee calculus.
Short-hand for the word floccinaucinihilipilification, meaning the estimation of something as valueless (encountered mainly as an example of one of the longest words in the English language).