I usually play on PC but I took the plunge and bought this Elite. I was happy to see that I got one of the 2010 models. The game library is huge. Used games for this console are generally cheaper than the direct competitor (and these things come from a guy who owns Playstation, PS2 and PSP consoles). Xbox Live Gold is an online service that requires you to pay to play online. The only thing about Xbox Live is that if you want to play some of the older Xbox 360 games with Xbox Live, the online community might already be dead. Otherwise I like the system, I use it for Netflix, games and music.
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