Many, many times. The only reason I got away with it was because I still managed to do very well in school despite all of my time off. There was one year in high school that I had 30 days off and the principal actually called me into his office to discuss what was happening. Good times.
I don't do it anymore though. I am in university now and I think I have missed one class in two years.
^ Yup, you have to transfer the "licenses". If you send your 360 to MS for repair, this is done automatically and all you have to do is re-download the games. If you buy a new console instead though, you will have to do it manually (I think).
Don't know if this has been posted yet or not, but I am watching Community right now and I'm pretty sure Troy and Pierce were playing Modnation Racers. I do not have a screenshot, unfortunately, but it is in the episode that aired April 22nd about chicken fingers lol.
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