OUCH! I'm sorry, but you just opened up pandoras box my friend. Even if it was cheap, anything can happen with a used 360.
But to answer your questions:
1. I guess they give your console the large amount of power it needs? I got mine with the console.
2. Xbox live is the online service that comes in 2 flavors:
silver- basic online stores and such are available to you, free.
gold- video chat/im/voice chat is available, Netflix is available, and you can play games online, advanced access to game demos and content.
With gold though, you have to pay 40$ a year for 13 months.
3. Hard drives are essential if you want the best x360 experience you can get. Basically what twestern said.
And you can't even play a couple games without a hard drive, and some multiplayer modes in some games require a hard drive.
And that's the only thing I need is *this*. I don't need this or this. Just this PS4... And this gaming PC. - The PS4 and the Gaming PC and that's all I need... And this Xbox 360. - The PS4, the Gaming PC, and the Xbox 360, and that's all I need... And these PS3's. - The PS4, and these PS3's, and the Gaming PC, and the Xbox 360... And this Nintendo DS. - The PS4, this Xbox 360, and the Gaming PC, and the PS3's, and that's all *I* need. And that's *all* I need too. I don't need one other thing, not one... I need this. - The Gaming PC and PS4, and Xbox 360, and thePS3's . Well what are you looking at? What do you think I'm some kind of a jerk or something! - And this. That's all I need.
Obligatory dick measuring Gaming Laptop Specs: Sager NP8270-GTX: 17.3" FULL HD (1920X1080) LED Matte LC, nVIDIA GeForce GTX 780M, Intel Core i7-4700MQ, 16GB (2x8GB) DDR3, 750GB SATA II 3GB/s 7,200 RPM Hard Drive