Ok, my thougts are that, M$ has probabley covered their butts on the media center end of the 360, blocking the most probable means of attack. However, the x360 is backwards compatible with xbox games and will run system link between these games. Now, theoretically, this gives us a window of attack because we have 1st gen xboxs that are modded. I am deffinately far from being anything close to a programmer, but in essence, I believe we could send almost any kind of code across a system-link connection from our old boxes. The only problem is, a very small amount and nearly insignificant data is actually sent across in the system link protocol. My thoughts are that we may be able to upload an exloit of somesort into the emulation files of the xbox360 - since it has these loaded into memory or a cache when its playing a 1st gen game... this would take alot of code work and reverse engineering of a retail game... but who knows.
This of course is all very theoretical as we don't even know the file structure of a 360 yet, let alone how we could cause an overload of the emulation files. Mainly, this is just a seed of thought to come back to later.
Laterz all,
Rustmonkey