I finally gave in a bought an Xbox 360 and so far I'm loving it. The only games I own are Oblivion, Geometry Wars, and Fight Night Round 3, but that covers my basic interests fairly well.
Oblivion is awesome so far. I've been playing for 12 hours according to the play clock and I've barely even started the main quest. I've been having a blast just exploring the countryside and chatting with the townfolk. The NPCs in this game are actually interesting to talk to sometimes, which is refreshing for a role-playing game. I love the fact that I can save anywhere, go on a crime spree, and then reload my save and do it all over again. I played by the rules for quite awhile, but then in Skingrad I decided to see what would happen if I stole a horse. So I hopped on the horse and took off. When I was a safe distance from town I got off the horse to see if it would run away or stick by me. Just then a wolf attacked the horse and I tried to shoot the wolf with flare but instead I hit the horse, which pissed it off. So the horse killed the wolf, then came after me. I fought the horse for awhile and then it ran away so I chased after it. The stupid horse lead me into a bandit camp where a bandit tried to kill me while the horse ran off. So I fought the bandit for awhile when all of a sudden the horse comes back through the camp being chased by two goblins, who then started going after me. So I wasted the bandit, killed the goblins, killed another wolf that showed up, and finally finished off the horse. It was all completely ridiculous, but a lot of fun nonetheless.
I'm looking foward to trying to play through the game as different classes too, just to see what it's like. Right now I'm a spellsword, but I think I'll play a thief if I play through the game again.
The only gripe I have about the game is the load times. When I'm outside walking around the game constantly hangs up for a couple seconds to load each area. It happens often enough to be really annoying, but it's not bad enough to make me want to play the game. I haven't heard many other people complain about it though, so maybe I just got a lemon.