C|net reports that there's plenty of opportunity for folks to buy an Xbox 360 at considerably less than the retail price.

Thanks to a recent decision by Microsoft to ban as many as a million players from Xbox Live for illegally modifying their consoles to run pirated games, there is now an absolute glut of "modded" Xboxes for sale on Craigslist.

And while a brand-new Xbox Arcade--the lowest-price version of the console--sells for $200 with no free games, it is now possible to spend as little as $100 for a used, modded Xbox that comes with a slew of hit titles. You just have to be willing to give up using Xbox Live and be OK with your new game collection including mainly pirated titles.

(Thanks Kunikos!)