That still leaves VC-1. I often hear people say uncompressed blu-ray rips play back perfectly on the Xbox 360, but I've yet to see any real evidence. I've tested this a number of time to no avail. The important question is whether the Xbox 360 can play H264, VC1, and MPEG2 in some sort of container at 40 mb/s+ as well as DTS and DD without transcoding. I'm confident it cannot, but I would love to be proven wrong.