TV/Music Apps = Online Only
Internet Explorer = Online Only
Xbox Game Covers Display = Online Only
Xbox LIVE Indie Games = Online Only
Xbox LIVE Messages = Online Only
I am not defending the rumour of Xbox 720 being "online-only" but mentioning that Xbox 360 itself had parts which are online-only. It doesn't matter to me since when I boot it up it's to stay online so I can access and see/play the content.