My Kids got Xbox 360 from their god parents for Christmas.. It came with Halo Reach and I have to say the FPS games out now are pretty cool...Reach, Halo 3, Halo Anniversary, and the lego Indiana Jones with the kids.. Also several kinects game everyone plays..
Tried Black Ops and currently have MW3 sitting just haven't played it yet
Got a $50 gift certificate for Gamespot...thinking of putting that towards a Kinect. My daughter is still a little young for gaming (only 3 1/2), but I could see her getting into it, especially if "she's the controller". Just have to make sure there's decent games for it first.
Kinect is neat but my kids hit up the Wii more often... If you got it try Kinect Adventures It is easy fun for kids and adults...