Has the Xbox 360 been hacked?

Microsoft claimed the Xbox 360 was unhackable, but we know that it is no Oracle. Hacker ‘TheSpecialist’ has posted a video depicting a copied disc of Project Gotham Racing 3 running on a hacked Xbox 360. There are doubts concerning the validity of the hacker’s claim as the video could have been shot at an angle where a legit copy of PGR3 is running on another Xbox 360 that’s hooked up to the TV. Why not check out the video yourself and draw your own conclusions?