My guess would be that the RP Xbox 360 would be the US version that's priced the same as the Japanese version (around PHP 27K++ This is the premium package not the basic core). The games would be the US version priced at 60 USD. I just hope that they allow RP residents to create XBox Live accounts or launch a local XBox Live service. But personally, I'm more excited by the Nintendo Wii and the innovative gaming promise it holds. Time has a very nice article about testing the new Wii gameplay.
I've seen the graphics of the Xbox 360 and am wowed by it. However i'm a RPG gamer at heart, and more RPG's come out for the Playstation, so I guess i'm waiting till November for that box. However, hopefully prices on the Xbox 360 come down by then and i'll be able to afford both. *nudges Dave_D*