If it's been confirmed that virtually no games run at the moment on XBox 360, then I can't see why it's even been released. Then again this is Microsoft we're talking about.
It's only original xbox games which are not running.
Although, it looks like their approach for backwards compatability is working, the bungie site has just put up screenshots of a standard copy of halo and halo2 running on the 360 (standard as in standard xbox disk, not a remastered/tweaked version), showing the gfx improvements that the 360 automagically does (only a bit of AA, and alternate screen sizing).
I have to admit to having a 360 on order, first console I've even considered since the wonders of dreamcast :D
The revolution still looks very nice though, particularly interested in the 'hints' that indi development may be possible with it...