Despite the obvious illegality of flashing your 360, I'm not too sure it's a good idea. For one, if you use any sort of mods on XBL, you get banned (XBL is a big part of the Xbox for me, don't want to lose it). Two, the 360 hasn't been hacked for homebrew yet. Firmware hacks usually come after homebrew is up and running, and without it, hacks usually aren't implemented very well. Three, I'm not even sure you can flash the actual 360's firmware without desoldering the chip and flashing it out of the console, then resoldering the chip back in (flashing the DVD-ROM is different, you use an SATA PC for that). As for DVD-ROM drive hacks, I was going to attempt it once but still, it can get you kicked from Live, so I decided not to. I'd say no for flashing the 360 for now.