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I have it and so does my son and it cost about £2 each because I bought all the original Xbox subscription packs I could find that stores were getting rid of when the Xbox360 live subscriptions came out.
People just didn't seem to know the old Xbox cards work exactly the same as the Xbox360 cards and I sold the remaining ones for a massive profit on Ebay.

Having said all that £30-£40 per year for Xbox live is nothing to pay, some people pay that every month on a Sky TV or mobile phone package.