Mine is about to expire. I had a full year of XBL, and used it maybe ten times. Massively over-rated, IMO. No doubt it's still by far the best console online service, but it's not what everyone hypes it up to be.
I never had any OMG "experiences," I just kept thinking, "This is what everyone says is so awesome?" I'll stick to my computer for online comunicating with my friends, maybe when video games have more of a robust Myspace-like setup to find friends I'll come back. For now it just felt too hollow and impersonal to me. All you see is a gametag, I want a picture, info about where a fellow gamer is from, their favorite games, age, ect.
I realize most people say that's why you play with only your friends, but none of my friends have an Xbox 360, let alone XBL, and I don't want to have to come on the internet, and troll gaming message boards to meet people when there should be better profiles and matchmaking setups in the console itself for finding, and communicating with other gamers.
Long story short.... I feel that online console gaming still hasn't come quite far enough yet. It needs another few years of improvements, extra features, and streamlining to get me.