Or at least the benefits of lower cost of a console versus a gaming computer that can run it (at least when if first came out, probably closer now). But anyway, I don't think any forum needs another console vs. PC argument.
Oh, I'm just trying to say that they both have their merits! I'm arguing against the idea that one version is the "far, far better" version, when that's not necessarily the case when all things are considered. I've probably put around 100 hours in on the PC version of Oblivion, and almost triple that on the PS3 (which is the same, basically, as the 360 version; the PS3 version having slightly better graphics, but the 360 having more downloadables).
I haven't played a ton of 360 games since I'm not really a fan of the system, but as I room with willard3 here at college, I have access to a 360 and have found a few things.
I prefer the PS3 myself, mostly because it's region-free and I don't feel like having my console dying on me. That's besides the point, though! I have put in quite a few hours on the 360 at various friends' houses. The absolute best game, IMO, is Oblivion. If you like FPS games, I'd go with The Orange Box or Rainbow 6: Las Vegas. Call of Duty 3 was pretty good, but I haven't played 4 and I'm not interested in it at all. Halo 3, IMO, is just an over-marketed game that's average at best but has great graphics (I have played through it). I definitely recommend the other games I mentioned over Halo 3.
Assassin's Creed is really decent. You've got Ace Combat 6, if you like flying games. Of course, Grand Theft Auto 4 is coming soon. The new Ninja Gaiden game is coming out soon, if it's not out already. It's pretty fun, but also difficult.
If you really like RPGs... get a PS3 that can play PS2 games. The best RPGs are currently on the PS2, while the best ones coming are on the PS3... with the exception of a few. Those few are made by Bioware; a great game company from Edmonton, Canada. They're responsible for Star Wars: Knights of the Old Republic, Jade Empire, Mass Effect, and others. Fable 2 should also be good on the 360 (and PC), as I really enjoyed the original Fable. So, while the 360 doesn't have the best selection of RPGs, it does have a few quality titles thanks mainly to Bioware.
For hockey, you've got EA Canada's NHL series, or 2KSports's 2K series. I prefer NHL 2K8 over EA Sports NHL 08. I find the gameplay in 2K a lot more fun because the checking is... fun! NHL 08 feels more realistic, but that doesn't necessarily make it more fun to me. EA also has the entire AHL league, in addition to the NHL and a few Euro leagues. On the other hand, 2K8 has a TON of classic teams and jerseys. If you want to play the the 1975 Flyers against the '72 Bruins, or the '84 Oilers against the '89 Flames, you can! You can't do that with EA!!! 2K also has a ton of cool mini-games, like pond hockey, air hockey, an NTN style trivia game, and other cool stuff. I'd go with 2K8, but you can't really go wrong either way!
If you've got the room, and the friends

, Rock Band is amazingly fun! So is Guitar Hero 2 and 3, but Rock Band has more stuff.