This is so over hyped. Nearly everone in the UK has a sky box which you get for free. The service offered on the xbox is more expensive with less channels available. My friend( one of the few people who does not have sky) was considering this but backed out when he saw the prices and just went for sky directly.
Rally. Guess you and your friend havent looked into it properly. Without a doubt the sky player 360 menu is MUCH better. Also Live Gold is £48/year. Thats the extra. If you dont have Sky, the best option for gaming and TV is to get Virgin Media Broadband 10 mb connection £9.99/month and get whatever Sky Subscription you want. Sky on 360 costs normal Sky prices ( depending on package ) plus Live Gold of £48/ year. There is only an extra cost for multiroom if you already have Sky and want it for 360 in another room. So the extra cost is Broadband/Live Gold. Lets be honest for gaming VM supply the best broadband. For 10 mb 9.99 it's a bargain.
So for that you get Sky TV ( plus the 360 features that you dont get with Sky HD box ) and Fast Broadband via optical cable and HD film downloads in 1080p via Xbox Live all on one console and no wires or DISH. Awesome. My mate has just got it, and I now hate my stupid Sky box menu. With Natal as well flicking through Sky with no remote will be so cool. Lovin it. Cant wait to change mine over in nexy couple of weeks.