I have owned the 360 and for a short while I enjoyed it, but when I realised that, just like windows, It wasn't as good as they say, I made the right decision. Trade-in.
I enjoyed the 360, Elder Scrolls 4, Saints Row, Far Cry and Tom Clancy's Advanced Warfighter. Elder Scrolls was the only game I found to have true lasting value, and it isn't an exclusive so it's nothing to buy a 360 over. The others lacked origionality and entertainment that I got from my PS2/GC/DS/PSP.
I also had an origional Xbox. It had about 4 games that I enjoyed, Halo 1/2 nad KOTOR 1/2. That was it. It is a trend that Xbox has, it never brings something new that gives it a resonable advantage over others.
Online play is good but since Sony and Nintendo are doing this for free, and it is also evolving with the users, in 2-3 years, it will be no better than the competition.
Overall, those who think the Xbox 360 is a something new should wake up. I am not saying everyone trade in the 360, not at all, people are free to do what they want and I think as long as your happy with your console, YOU WIN in the console war, but dont be believe the hype, there are pros and cons in every console.