This sounds great, im suprised they didnt come up with something like this years ago, ive gone from owning 5 xboxs down to owning 1 jtag, and i hardly play that (in the last 6 months ive played 20mins i guess). The fact is they need a new gen console now, all current consoles are far too long in the tooth, and ive gone back to PC Gaming as the games look better, run better, handle better with a kb/mouse, and the games are alot cheaper (digital downloads). I can get games for $20 on the pc, where console equivilent are still $60+
If the device works are stated, i might be swayed to pick up a slim just to mess about on live again with some friends, but i doubt its going to last long, either through the company going down and not supporting it, or ms just able to block it permanantly