Picked one up driving through Oregon at a Target. No tax, huzzah!
Fixed the remaining single most annoying thing about the 360: the noise. It is significantly quieter. Even when spinning a DVD. Also, the form factor reduction is appreciated. The original was not an obnoxious size, but the smaller footprint is better. Integrated wifi, yes thank you. The gloss, not so much.
So three steps forward, a baby step back. Worth upgrading to a 360 S from an earlier revision, for sure. This and the ps3 slim are why I love mid-cycle revisions. Both are pretty awesome.