And for the record, the 360 is easily the best gaming-related purchase I've made in the last couple of years; there really is no reason to hesitate unless you just don't like Western games.
Even if you don't have a HDTV (and don’t plan on making the investment any time soon), you can just buy a used VGA cable from Gamestop/EB Games for $10 and have all your games running in HD on your computer monitor.
Just make sure you have a backup plan in case your 360 craps out on you.
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