my advice depending on your situation (if you want homebrew):
- version <4532 and resistor untouched :
don't connect, don't play with games released after mid-january
if you get upgraded to >4548 you lose first efuse
without it you can't downgrade to <=4548
download the "fall update", to burn on cd-r (from the link in previous post -Thanks Castor420!-)
don't use it yet
the day some homebrew appears this cd-r will upgrade you to 4532
- version 4532 or 4548 and resistor untouched :
don't connect, don't play with games released after mid-january
if you get upgraded to >4548 you lose first efuse
without it you can't downgrade to <=4548
- version >4548 and resistor untouched :
you lost first efuse
maybe sell for very cheap your xbox360 on ebay now and buy a new one very very quickly
- any version and resistor removed (see photograph in previous post -Thanks Grim187!-):
like above, but you are allowed to do mistakes (or to continue playing online and with new games)
if you need to downgrade later -operation won't be obvious for beginners and so, may cost money-,
it will work (a flash memory needs to be screwed up), you won't be stuck in a bad situation
as long as the first efuse is ok, kernels <=4548 will accept to run
(at least that's what I've understood so far...)
Because downgrade may not be so immediate and easy operation (only possible if resistor not there), I think many (myself included) won't bother removing the resistor but will dedicate xbox360 to homebrew now.
A new model with 65nm technology will appear by end of year, this one can replace the old one for gaming.