As of right now, running any unsigned code on Xbox 360 is extremely difficult (It requires a modded version of the game King Kong, a serial cable, a Linux 360 CD, and an Xbox 360 made before December 2006 that hasnt been upgraded). And the only thing thats been publicly released to run on the 360 is Linux and a NES Emulator with no sound that you need a Media Center computer to run.
But once modchips or some exploit comes out, I'm sure 360 will become an extremely popular homebrew console.
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