Modded vs Ori

What's currently playing in my mind now is the undecided choice of getting a modded or an original next-gen console, namely the Xbox360. The differences between these two are so great yet they are tempting in their own way! Visited lots of forums and asked a lot of n00bie questions to get more info on it, but it just makes me more eager to get one unit ASAP! Aaaaarrgggghhhh!!!

Original:
Pros:
1) Able to log on to Xbox Live and enjoy the experience of playing Multiplayer with friends
2) Nice packaging, both or the console itself and the games
3) Warranty period will not be void

Cons:
1) Expensive games (RM150+ per game)
2) Monthly renewal of the Xbox Live subscription (for Gold membership)
3) Cannot play ciplak games

Modded:
Pros:
1) Can play ciplak games!
2) Cheap ciplak games!
3) No need to wory about renewing the damn subscription to Live

Cons:
1) Warranty period is voided
2) Unable to join the world in Xbox Live
3) There's a possibility where Microsoft will perform updates to ban all modded X360s...

So sad...I don't know what to go for...