I am considering purchasing a 360 but im not 100% sure yet for two main reasons first of all i am at college and money can be tight so i do not want to be forking out on £300 or whatever for something that isnt that much better that what i already have which leads me to second reason i do not have a HDTV and i cannot afford to buy a HDTV so my questions to you experts are as follows:

• Is it really worth the money, i have heard people say that on a standard TV their is not much difference in graphics when compared to an Xbox. I know that graphics do not make a game but sometimes its nice to look at something pretty.
  
• Secondly, Xbox live is that also worth getting?
  

All advice will be most appreciated! and sorry for being a noob and wasting your valuable time which could be spent doing something better.