Today MSFT released the priceing plans for Xbox Live on the 360. the “gold” package will allow users the following for $70.00 1yr subscription.
Xbox Live Gold level

Paid level of service
All the features of Silver level, and additionally:
o Play multiplayer games online
o Video chat
o Multiplayer online tournaments
o Participate in Xbox Live online programming, such as Game with Fame, Play and Win, and Prime Time activities

If you buy an Xbox 360 and stick with the silver lvl your xbox will tech. be online but you CAN NOT PLAY MULTIPLAYER, unless you shell out the 70.00 for “gold”

Xbox Live Silver level

Create an online Gamer Profile
Access the Xbox Live Marketplace
Engage in voice and text messaging
Talk to a single friend at a time using voice chat
Receive video messages from Gold level members
Access massively multiplayer online games (additional fees may apply)

So what this means if if you can find an xbox 360 not in a bundle you will need to shell out $470.00 total including online play.
however presently EBgames and Gamestop are charging 700.00 for the Xbox 360, 4 games (no choice). So if anyone out there is getting an xbox 360 @ launch be prepaired to shell out 808.50 (with MA sales tax).
Good times………sigh