[GhettoDogAllStars]

Modding your xbox is illegal, so of course I only do it for educational purposes.

With a modded xbox, you can do the following:
1. Download any game for free on the internet
2. Rip any game to the xbox (same as downloading, but in this case you have the disc) ... just pop it in and rip it.
3. Download the latest rosters, game updates, game saves, etc.
4. Play emulators (over 3000 nes games and over 2000 snes games -- basically every game ever made)
5. Download and watch DVDs from the internet (or you could rip it, if you have the disc)

There's probably more that can be done, but I'm just in it for the free games (educational purposes only!).

I have about 45 games on my xbox (all free). At $50 each that's a $2,250 value. Not to mention the DVDs and emulators. (or the games that I have already beaten and then removed)

I had to spend about $300 dollars on materials to mod my xbox. I did the modifications myself, so I didn't have to pay for that (I've done it for friends for $50 -- very cheap though, you could easily charge $100 or more). Altogether, $200 for the console and $300 for the bigger hard drive (120 GB) and the mod chip.