Good review. Thank you.
I realise this idea is only going to appeal to someone whose needs are similar to mine. I'm not proposing this for everyone, but...
... I realised a few months ago that I needed to scale my AV setup down. I'm moving into junior doctor accommodation in August (final year of med school), and there's no way that I can take my 32" TV, my 27" iMac, and my Xbox 360 into a room of that size.
Instead of spending £100 on a cable or switchbox, I spent £90 on Windows 7 and Boot Camped my iMac. Now, I play games on my computer through Steam. They're almost always cheaper (BioShock 2 was £13.99, Plants vs. Zombies was £2.85, Fallout: New Vegas was £22.99), and they run at 1080p/1440p - not because they're upscaled, but because my iMac is tons more powerful for gaming than my Xbox!
Most crossover games released for the PC and 360 are Games For Windows certified, which means the wired 360 pad works perfectly. By buying Windows, I have essentially bought a 'better Xbox'. When I move to my new room in August, the iMac is coming with me, and the TV and 360 are staying with my parents.
Some folks won't have any reason to do this. But if you're not wedded to the Xbox console itself, consider it. For me, it was a cost-benefit win; I lost being able to play Halo, but I gained the ability to play (almost) everything else with my 360 pad, with significantly better graphics, and a single 'footprint' on my desk. Not to mention the games that don't come out on consoles.
Worked for me. I'm beginning to wonder whether I even need to keep my 360, now.