magatama, tenerezza, hello kitty roller rescue, scarface the world is yours, brute force, dennou taisen drone-Z, rent-a-hero no. 1, Black, Raze's Hell, NUDE@, Airforce Delta Storm, Angelic Concert, Area 51, Castlevania Curse of Darkness, Crash Twinsanity, Daemon Vector, Wreckless, Double Steal 2, Enclave, Gungriffon Allied Strike, Galleon, Otogi 1 & 2, and Phantom Dust.
The Xbox has about 60-90 games on it worth really giving a good shot. Great system.
technically, as long as its plugged into with a pass-through cable (PC->Xbox) or Router/Modem -> Xbox it's receiving Internet juice. Since there's been breakthroughs with emulation and the architecture of XBLA and how accounts worked, maybe some day XBLA emulation can be achieved.
FTP everything to your Xbox. Store locally and play off the hard drive. I suggest upgrading the HDD and also getting an 80-pin IDE cable. Emulators however, coinops is running the latest versions of every emulator on the system, it's the best you can get, although requires a bit of setting up to get running right, it's great.
if you have an Xcalibur chip (below the AV adapter on the inside, underneath the DVD tray) DO NOT TOUCH THE CLOCK CAPACITOR. It's fine.
If you have a conexant or focus chip in that same spot, below the av adapter on the motherboard, remove that clock capacitor.
make sure you get the translation patch too.