I admire the effort porting FM over to consoles and to make the processing faster on a 360 than alot of PC's out there is an achievement certainly.
However I'm not 100% about FM '08 right now, the save issue is of course a cause for concern but even if that's ironed out (which I fully expect the SI chaps to be able to do), I felt FM '07 was a slight step back for the series. The pitch and players in the match engine on the 360 version are condensed, which is pretty irritating and the overall 'tab-lead' menu system is more fiddly and confusing than the 'legend' system of '06 I thought.
FM is starting to lose the fun I've always had with classic Champ Manager for me though anyway, which is why I (and many others I've noticed) have gone back to the CM's of old lately. I've been playing the update for CM 01/02 on PC and CM 02/03 on the old X Box non-stop for months now. It's a huge shame it'll never be on the MS BC list but it's the main reason I keep my old X Box.