yeah, the games pretty hogshit horrible on the 360. I own it on both the 360 and the PC, and I have to say, damn, I hate the 360 version.
If you want to know the best way to beat the game, is to get a suit of armor enchanted with Chameleon until you have 100% chameleon, and then nothing will ever see you, and you can just attack non-stop.
It breaks the game over its knee with a sickening crack.
on MY playthrough on the 360, I followed this guide to the letter:
http://www.gamefaqs.com/console/xbox360/file/927345/48756
I ended up at level 50 with 100 in each stat and 100 in almost every skill. but honestly, I wouldn't reccomend it. It takes WAAAAY too long, and is soul destroyingly boring.
If you want to get the best out of both worlds... just make sure that every level you get 10 raises in Endurance skills (Armorer, Heavy Armor, Block). and every level, put +5 points into Endurance. If you do that until you have 100 endurance, honestly, the rest doesn't really matter. You'll be have as much health as it is possible to have, so you should be able to stand up to any challenge that comes to you, no matter your level.
You may not have 100 stats in everything by the time you're done, but you should have 100 in your major stats you want to use and the ones you use often.
just get 100 endurance as fast as possible. As long as you do, you're fine.
I suggest playing it on the PC though, where you can completely forgo the shitty levelling system using mods.
EDIT: Oh, and if you want to be really tricky, abuse trainers. get 5 trains per level every level, and for high level skills, create a "Drain *Skill* Self 100 for 1 second" spell, cast it on yourself before talking to the trainer and get the training for almost free.
On that same note, learn a Boost Self Personality 100 1s - Charm 100 1s touch - boost self Mercantile 100 1s -- spell and use it before talking to anyone.