I'm pretty sure it's already been cracked. My buddy is on Live, and he's already playing Black Ops (not live) and Fable 3 (live). He also has the latest firmware.
Although I don't pirate games myself, I am not at all opposed to it. The only reason I don't pirate games, is because I play games for the long-haul, and they are the only games I buy, so I don't need a big budget for that. If I enjoyed more genres than I do, or if the need arises ($100+ for a game), then I am definitely cracking my box open and "fixing" it. If you enjoy playing everything, then I absolutely think you should not have to pay $70-$80 for pieces of garbage like Force Unleashed 2 or Shattered Dimensions (just to name some recent ones).