I heard on the Quicklook the framerate drops considerably and it seems to be a real turn off, but Brad mentioned that it doesn't effect playability too bad. Does anyone have this already that can tell me if it totally would keep me from buying the game for the console?

Sounds to me like occasionally it will chug for a few seconds when things get busy. Doesn't sounds too major, but I can't speak from personal experience.

Playing through the main story (about 8 hours or so?) the game only chugged a little when things got really hectic. Definitely noticeable, but certainly not game breaking. 
 
However, when playing the post-story stuff, I started using the Aura of Thorns for the first time (I played a Destroyer), and when things would getting really crazy then, the slowdown seemed a LOT worse and seemed to last longer when it would happen. I don't know if the aura actually had anything to do with it or not, but I thought it worth mentioning. 
 
That said, while the slowdown is a problem (that I'm hoping they can at least reduce with a patch), I'd definitely recommend the game anyway. The PC version is better, sure - for more reasons than this - but the XBLA version is still great.

That's what I needed to hear. Thanks Sargus

My bad. Yes, totally getting it. I've had a count down on my computer and unless something drastic happened I would be playing it day one. I'll certainly blog about it for sure.

" I heard on the Quicklook the framerate drops considerably and it seems to be a real turn off, but Brad mentioned that it doesn't effect playability too bad. Does anyone have this already that can tell me if it totally would keep me from buying the game for the console? "

Question, is it actual slowdown, or hitching (plays a few frames, freezes a few frames)? 
I don't mind slowdown, and in intense moments it can be rather cool looking, but hitches are just horrid.

" @Lukeweizer: Not on mine it didn't. "

" I think we should come away from this discussion with the following conclusion....It's time for a new Xbox. Maybe not necessarily a new PS3, seeing the system has a lot of power but hasn't really been fully utilized but the Xbox 360 is starting to show its age. And im an Xbox fan as well.  "