Get an elite, it's worth it. But If you can get the one that has 2 games packed in get it. You'll also want a warranty that starts after the manufacturer's warranty is up (It is 1 year for every type of defect but 3 years for the 3 red rings) And you WILL need that extended warranty because there are other things that may go wrong, Like the DVD Drive.
You'll also want another controller and a play and charge kit for that controller. (The elite has a play and charge kit bundled in)
As for faceplates, You don't need any but if you want one get the GameFace one because it lets you make your own. (You print an image on special paper and then you put that in between two faceplates)
And as for games, Subscribe to gamefly because if you buy a game that you end up not liking you are stuck. But as for game reccomendations, Here is a very long list:
360 games that are out now:
Condemned
Crackdown
Bioshock
Dead Rising
The Darkness
Gears of war
Guitar Hero 2
Guitar Hero 3
Halo 3
Lord of the Rings: Battle for Middle Earth 2
Lost Planet
Oblivion
The Orange Box
Overlord
Saint's Row
Skate
Shadowrun
Stranglehold
Xbox live arcade unplugged Volume 1 (You may need xbox live to access the full versions)
Xbox Live arcade games:
Aegis Wing (Its free)
Astropop
Root Beer Tapper
Sonic the Hedgehog 2
Worms
Yaris (Its free)
Games to stay away from:
Bullet Witch
Pimp My Ride
Vampire Rain
Good loking games not yet released:
Assassin's Creed
Army of Two
Mass Effect
Oh, And if you have any intention on getting xbox live (Which, If you decide not to get, You are missing out on like 85% of the xbox experience) Buy the 12 month package off of Amazon. It comes with an Xbox camera, (A $15 value) A headset (A $20 value) 12 months of Xbox live (A $50 value) Two Xbox live arcade games (Robotron 2084 and Uno, A $10 value) and 200 Microsoft points (A $2.50 value) All for $66 the last time I checked.