Heres how it works:
Basically, this is a referral site. Its from the Gratis network that did the freeipods thing. How it works is, you click link: once clicked, you sign up to the offer. After you've signed up it'll want you to complete a type of offer. Now, this is how they make their money, and this can't be avoided. Look for the cheapest offer or the best offer for you. Because you signed up under my link, I get a point. To get a free xbox 360 you need 8 referrals/points.
Once you get credited for completing the offer (check your status page, it usually takes a few days) and the offer is about to expire, cancel the offer so you are not charged any more. They make profit from this from people who don't cancel the offer. So this is how you break the system in a way.
Sign up now, before everyone is doing this. Just like the freeipods, the sooner you start the better.
If you don't believe this works, ask just about anyone who knows the freeipods.com website. The Gratis network is legit, the only downside is when the site gets real popular, they may be behind in shipping. But you can rest assured you'll get your free Xbox 360 assuming you complete the offer and find 8 more people like yourself to sign up under your referral link (provided once u sign up in the referral section).
Forgot to mention, this only works for residents of the USA. Unless you can get a US proxy and address you will not be able to participate in the program.
Enjoy and Goodluck :)