The reason why it's so great is:
It's a console!
I put all my console games on my cabinet, and some of them (espeically the N64 games) are a pain in the ass to play, since I don't have analog controls. And they just don't feel the same playing them on arcade controls anyways. Now, I use my cabinet only for arcade games, and my XBOX for EVERYTHING else.
What's so great about the xbox, is you can put every Atari, Coleco, Intellivision, NES, SMS, Genesis, SNES, N64, C64, etc etc etc game on it, and you now have an all in one portable gaming platform, that plays all your favorite classics, and spanking new games as well!
It's really convenient, and console games feel more comfortable playing on a console controller, sitting in front of a TV. At least for me.
--NipsMG