With the launch of the XBox 360 there are going to be a lot of original XBoxen lying around that nobody wants. I'm a keen re-user of hardware - some of my machines are 5-10 years old and at least second (and possibly third or fourth) hand. If it still works, why dump it?
There are lots of things you could do with them, none of which I can think of right now, but how about using it as a Linux box. There's an Intel CPU, 64MB of RAM and a 8-10GB hard drive in each machine - perfect for running, or even just trying out, Linux. With a little stack you could even create a small grid or cluster.