Once upon a time “Elite” by David Braben was the best thing going in gaming. Perhaps the first ever “open world” game, you could choose to be a trader, a pirate, or just a wanderer, moving from space station to space station taking on odd jobs and other quests, and upgrading your ship in one of many different ways. It was a revelation, complete with wireframe 3D graphics that somehow worked on systems as antiquated as the Commodore 64.
“Odyssey 3011” is an homage to Elite. The graphics are massively updated, but the core gameplay is little changed. The procedurally generated planets, missions, etc., assure that no two games of “Odyssey 3011” ever play the same, even if you make similar decisions. But it’s the ability to make utterly different decisions each time on top of that, that make this such a steal at 240 Microsoft Points.
Here’s what the developer (dunxz23) has to say about the game:
“3D, 1st person space-sim, combat, trading. Dog-fight and trade your way through hundreds of star systems. Earn galactic credits to upgrade your ship. Complete missions, discover the alien artefacts. More info: http://www.Odyssey3011.net”
Writings of Mass Deduction 
I’d say this goes beyond homage – it IS Elite. Still, I suppose it’s probably the definitive version of Elite to try if you’ve never played it.
It’s been nearly 30 years since I played Elite. That’s apparently long enough for me not to have realised it. Wow.
Well, planet names etc are different, and I imagine the exact layout of the galaxies is different too. Otherwise, though, it’s the same game. All the mechanics are identical. This could easily have been an expansion pack for Elite, had such things existed back then.
That’s one of the reasons I enjoyed Final Rift. It’s almost an XBLIG version of Elite, but modernised and made more accessible.