"Running both server and client on the same machine was a challenge for 4J, who hived off the tasks to separate cores of the 360's Xenon tri-core CPU."
"Downloadable skins and possibly texture packs will be added to the Xbox 360 version but clearly mod potential on this version is limited owing to Microsoft's unwillingness to support user-generated content."
"Single-player Minecraft on console runs at a sustained 720p60 with no anti-aliasing - surprising bearing in mind the lo-fi textures and basic geometry."
"View distance on the 360 version of Minecraft is equivalent to the normal setting on PC and it is entirely consistent between single-player and all multiplayer modes available in the game."
"Even without the multitude of engine updates and features etched in for future patches, Minecraft 360 Edition delivers the same compelling core experience which continues to transfix PC gamers."
In Summary:
Minecraft 360 Edition - The Digital Foundry Verdict
We're given a lot of promises for the future, but what do we have right now? Even without the multitude of engine updates and features etched in for future patches, Minecraft 360 Edition delivers the same compelling core experience which continues to transfix PC gamers. Its simplicity meant that it could have manifested on console in several ways, but 4J Studios' decision to prioritise long draw distances and optimise for 60FPS strikes us as one which services overall playability - in other words, the correct one.
The absence of game mechanics introduced later on, such as the XP and food meters, makes the game feel a bit too bare bones, but it does at least tread its own path when it comes to creative play. Specifically, the addition of split-screen multiplayer is near-flawlessly integrated into the engine, with only a few frame-rate hiccups at the extremes.
Looking forward, we hope to see the 1024x1024 block limitation expanded upon, if not eradicated, and for some level of mod support to worm its way in. With the recent news that Minecraft 360 Edition has broken first-day sales records for Xbox Live Arcade, it has clearly generated enough interest to warrant extra time being put into increasing its scope and feature-set. We hope it does receive the lasting commitment from both 4J Studios and Microsoft it needs to blossom - if not into what the PC version has become, then into something instead tailored to the strengths of the 360 hardware. So far, it's making good on that promise.
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Source: http://www.eurogamer.net/articles/digitalfoundry-vs-minecraft-xbox-360-edition