We present results from a catalogue of 1696 X-ray point sources detected in the massive star forming region ( SFR ) Cygnus OB2 , the majority of which have optical or near-IR associations . We derive ages of 3.5 and 5.25 Myrs for the stellar populations in our two fields , in agreement with recent studies that suggest that the central 1-3 Myr OB association is surrounded and contaminated by an older population with an age of 5-10 Myrs . The fraction of sources with proto-planetary disks , as traced by K-band excesses , are unusually low . Though this has previously been interpreted as due to the influence of the large number of OB stars in Cyg OB2 , contamination from an older population of stars in the region could also be responsible . An initial mass function is derived and found to have a slope of \Gamma = -1.27 , in agreement with the canonical value . Finally we introduce the recently approved Chandra Cygnus OB2 Legacy Survey that will image a 1 square degree area of the Cygnus OB2 association to a depth of 120 ks , likely detecting \sim 10,000 stellar X-ray sources .