tracer, the 360 has suggested they will be able to add official bethesda mods, but no mention of fan made mods yet. Unless they allow the fan made mods, then it will be inferior. I do know that.
Even if they allow fan made mods, a good number of the morrowind modding community are pc fanboys, hence even if they can make 360 mods, most wont because they dont care for consoles. so again tracer, i do quite confidently say that the pc version will be better.
