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Sure if you don't mind being stuck in a contract, want to use live for 2 years and too lazy to look for deals on the console and/or xbox live gold.

A smart man holds on to his money, doesn't enter unnecessary contracts, or pay for things in advance, nor does he have unnecessary debts. But I guess I'm one of the very few that didn't buy a car until in my 30's when I could buy it without a payment plan.

Great for people brought up on instant gratification. It would be smarter to save up, buy it when you can afford it, probably with a price cut in between or with a good deal, plus plenty games will be cheaper by then.