With today's release of the New Xbox Experience for Xbox Live, it's time to make sure your system is in tip-top shape. And that might mean more than just blowing the dust off the top. An upgrade might even be in order (inasmuch as you can upgrade a console system).
For example, DO get a subscription to Netflix:
Right now the combination of Netflix and Xbox Live is the most convenient, affordable, and generous way to stream a library of high definition content into your house. But you need a Netflix account on top of your paid Xbox Live subscription. However, I can only speak to the theoretical application of this. Right now, as of two hours after the launch of the service, it's not working and the official advice I got from Netflix's tech support an hour ago was "We're recommending you wait and try again in a half hour". And even if it were working, it looks like Sony will block their movies from being viewable over an Xbox 360. It's going to get a whole lot uglier before it gets better.