Gamepro.com has a article of different things you can do with your old original XBox. Some are obvious like sell it, others include making into some type of media center tivo device.
Feature: Xbox Resurrection: 6 Uses For Your Old Xbox for Xbox on GamePro.com.
I just unplugged my big green machine about two weeks ago. But I feel kind of bad for it. So as of right now it is just sitting in a pile next to my TV. (The PS2 is in a bag next to that!) I am not sure I am up to some of the ideas these guys give. But interesting read anyway.
As for my Xbox I have a feeling it is going to end up going to my 5 year old nephews house. He is quite the gamer on his PS2 already. Figure the XBox and about 60 games should put me up for Uncle of the year.
What did you guys do with your old systems and games?