Would be perfect imo, everyone would be happy. 1 of the things i loved about MW on the 360 was that i was hooked up with a bunch of random peeps within seconds, and all we wanted to do was just play the vanilla game with a nice rotation of maps, thats what i and i guess many find to be the perfect online gaming session.
Modded up servers are absolutely great when you fancy some of that, but when a game turns into CS where nearly every server is a custom map with some annoying rules and nearly impossible to find a nice vanilla server with a nice variety of maps (not just fucking dust2), it ends up sucking hard for me (and my many friends that used to play it, and dont thanks to crap like this, downloading 100's of UT sounds before getting into a game because the admin wants people to hear HEADSHOT a hundred times, grrr).
BF2 has also turned into this, Infantry Only Karkand 24/7, great game ruined by a boring community (imo).
Also, have none of the guys in that show tried MW1 on the 360 ? To see how things run for themselves ? Before they go all melodramatic over it they should really look into how the consoles handle the P2P systems.
http://www.youtube.com/watch?v=BvTNyKIGXiI