XBoX 360 Core system decisions (Help)

First off I'm new to the console scene so please be gentle. I am in the market for a DVD player that plays most of the formats avaliable and a friend of mine recommended a XBoX 360 since I love gaming and am also wanting to buy a console to game with. Is it true that a XBox 360 console will play most DVD formats? Blueray, DVD backup disks etc? He said it would work great on my HDMI flat screen. I'm kind of lost when I read about the arcade system, Pro system, elite etc...

Can I please get some help and suggestions? Thank You! :D

It will play ALL DVD formats. But it does not play blu-rays. It's really worth the buy for 199 imo, and it does look good with the HDMI

Plays all DVDs and Dual Layered DVDs... but not Bluray as stated above... the only things that do that are Bluray players and the PS3...

Thanks for the info. So they don't play bluray but PS3 does...hmmm

Wow Why don't more people just buy a console? If it plays DVDs just as good as a plain old dvd player you kill two birds with one stone by buying a console.

A DVD player is only 40 bucks , so I would rather watch my DVDs on that and save the wear and tear on my XBOX.

I don't see how it is going to wear and tear your xbox by just playing dvds on it. Why would they make it to do it unless it was capable and safe?