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And just to expand on that refurbished comment, here's what you get for buying a refurbished 360 off of eBay:

  1. You're taking the sellers word for it that the console works.  For all you know they could have done the towel trick (fixes dead 360's for about a week to a month) and stuck it in the box to ship it.
  2. The console could be mod'd, which would void any type of warranty and may affect how it runs things.  And speaking of warranties...
  3. You have no 3 year warranty because refurbished 360's are not covered by the 3 year warranty.
  4. You have no idea how old the 360 is.  It could be a launch 360 that's just waiting to die, or you could be lucky and it's a newer reliable one.  If I had to bet, I would bet it's an older one.

Good luck.