Won won through every10minutes.com, so mine was free. But I'll still answer your questions.
I love it. I have Kameo and PD0 and I'll recieve Madden whenever they decide to send it. I think the graphics are a definate improvement even on a SDTV.
Its true that's there's nothing revolutionary about it, but I never expected it to be. I don't expect anything more out of the PS3 either, just prettier gameplay with the occasional new idea.
My favorite part of the 360 is the media connectivity. Hooking up to an MCE PC is awesome.
But all in all, is it worth $400? Only if you have the means. I sure wouldn't starve myself for it, but I love it because it was free.