"Great upgrade, but not perfect"4.0 starson by localyocal
Pros: The difference in noise and heat alone are worth the upgrade. The 250GB hard drive is also nice (I had the original 20GB version of the first 360).
Cons: No HD connectivity (READ HDMI or HD component cable) out of the box is ridiculous. There is no WOW factor. You think to yourself, "I just spent how much for the exact same functionality?" Granted the Kinect compatibility will be a future benefit...
Summary: Overall, a good buy especially if you can get the trade-in specials offered by several retailers currently. I paid less than $125 for mine by trading in a controller, original XBox 360, Hard Drive, and Wireless Adapter. I'm assuming that the kit for Kinect compatibility would be at least half of that. Here's hoping to no hardware issues!! (*cough, cough* right...)