I have owned a 360 since January, i got mine in Game, do not fret about buying a 360 on eBay, as long as its a new one. Microsoft will take away and repair a faulty 360 and return it to you quickly.
The 360 is fantastic, the games are nice and getting better all the time, there have been a few let downs (Blazing angels and a couple of others) but on the whole the software catalogue is rather good.
eBay is a great place to buy your games, usually meaning you make a saving on the £39.99 retail prices, i mostly buy region free titles if available as they work nicely on all 360's and cost a little over £20 delivered.
Currently the 2 best games on the 360 IMO are Call of Duty 2 (still) and Test Drive unlimited. Others worth a purchase are Quake 4 (make sure it comes with the bonus disc), Oblivion, GRAW and Saints Row. I recomend searching for the seller FANTASYLANDUK as he stocks pre orders for £32.99 which is a good price for a pal game.
I seriously recomend that you purchase the 360 intercooler system to keep your 360 running at tip top condition.
Xbox live, the 360 live is amazing and 1 of the main reasons i enjoy it so much. I suggest buying your live subs on eBay as a 1 year card costs around £20 but from Xbox live it costs £40.
Other notable extras, online play can be fun, but when you get some youngsters beating you everytime, it gets annoying...lol. Join a clan, 'too serious' you say...not so. There are alot of no serious clans out there that play for fun to get a group of similar minded/aged players. I can recomend 360m (.co.uk) as a great place for the mature gamer to go for some fun. I am a member, as is my hubby, joining this kind of thing really does add to the experience.
The bad points about the 360 are listed next:
Overheats, the 360 can overheat easily, resulting in console lockups, disc read errors and more, this usually and mainly applies to the first generation of 360's though and not the newer ones. I strangley enough had major problems with my premium, but i got a core and switched the HD over and have had only a couple of glitches.
DVD playback can be pretty choppy and poor quality for some reason, but with the release of the new drives, this should be fixed.
Online play, mostly in newly released games can be a pain, for instance COD2 was full of faults and very bad online till a patch was released almost 3 months after the game came out, GRAW still suffers from alot of online faults as does Battlefield 2. More recently was the Saints Row and TDU problems, one was majorly full of lag and the other failed to even work online at all for alot of people.
Thanks for reading, if you need any more advice or want to join up with us at 360m (.co.uk) then pop on over.
Lady Em and Hubby
Gamertags: Emskies and Evilest Dad