Microsoft MN-740 Wireless 802.11g Xbox Adapter

Pros: No need to install wires throughout the house, portable, very easy to set up
Cons: Price: you have to buy a wireless router before this which costs around $100.

This product is awesome for someone like me who doesn't have a wire running to the room in which they'd like to play. I bought this product because I didn't want to have to run a wire through the walls, so I got this. The range is some what limited, but overall a very good signal if your not going through any big concrete walls. I love the portability given to you from this product because if I'm playing late at night and i don't want to wake up my parents i can just move it downstairs and still get an awesome signal.

Pros: Works great, easy setup, small size.
Cons: Costs too much

I have had this item for over 10 months now. It works great. Was very easy to set up and maintain (I was up and running with it in 10 minutes). It is fairly small, so it is easy to deal with space-wise. I notice no real difference between using Xbox Live with it, or using the ethernet connection. They both seem equally speedy. I would like to see the Xbox console include this functionality in the future. Spending $110 on it is a bit steep, when a new Xbox is only $149.