Lost Odyssey is a mrginal RPG, at best. Just because a former member of Square Enix did that one, as well as Blue Dragon, doesn't make it quality.
Games you should get for the 360??
Well, Gears of War 2, definitely. Call of Duty 4. Halo 3 to me, is vastly overrated. Call of Duty, World at War is coming out fairly soon as well. The MP Beta is up right now, although I think it is expiring very soon, if it hasn't already.
The Orange Box is also excellent as well, and you should be able to get it at a very good price at this point
Here's a game you should get, and its on XBL Arcade. Its a game called Braid. Its fairly expensive compared to other XBL titles, but when I tell you its worth it, believe me. If you like to challenge your mind with time-bending puzzles and the like, then you will truly enjoy this.
MY XBL is Vinny Cafone Jr. Add me as a friend.
Dead Space is good, but with Resident Evil 5 coming just around the corner, I would probably choose the latter