Now that you've gotten a look at what the console is like before you even turn it on, lets get going w/ the convergence and whatnot. BTW, I must say I detest the packaging the peripherals came in, it's of the quarter inch thick plastic break-the-scissors variety. That out of the way, turning the console on was great, to hear the Xbox sound and bang I'm at the prompt, this thing starts up quick.
Setup was pretty painless, almost to the point of "did I miss something? I must have missed something" because it went so quickly and easily. The 360 detected my internet connection with absolutely zero input from me, connected, downloaded an immediate update and restarted. After that, activating my existing Xbox Live account was as easy as entering my MSN passport from Xbox.com (must link your gamertag to do this) and I was set.