It doesn't have to be jailbroken, you just have to buy an unlocked (unsubsidized) one. At least that is my understanding. Now, I am not sure that a US iPhone 5 is compatible with Argentina's providers. You'll have to look into that.
Looks like Verizon unsubsidized is unlocked out of the box. AT&T unsubsidized requires restoring the phone in iTunes, but then it will be unlocked.
Actually you need to watch at least 30 minutes of at least 3 of the 4 debates, not just the first one (isn't it on Wednesday?). I guess you watch it on your Xbox somehow.
Yup, that is correct...I should have read the whole article.
Interested gamers must join Microsoft's Xbox Live Rewards program, and watch at least 30 minutes of three of the four presidential and vice-presidential debates. The debate coverage will be available live through Xbox Live's Election 2012 Hub and will air at 9 p.m. EDT on October 3, October 11, October 16, and October 22.