As always, SI have done a good job with bringing FM to the 360, but there are a few issues.
One of the interesting aspects of the game is that it is a bit quicker than the PC version, I finished 3 seasons in about 2 days of playing. The user interface takes a bit of time to get used, especially if you are unfamiliar with FM.
However, the game does have its bad points. Unlike PC gamers, there is very little support available in the form of patches or updates, and this is more to do with Microsoft rather than SI. Also a data editor is unavailable, so any recent transfers or league updates cannot be changed by the user. There are other minor irritating glitches, which I am sure, had this been a PC game, would have been resolved with patches, but as usual, console owners (esp 360) get the short end of the stick.
My advice would be to get this for the PC rather than the 360, and that if you are a hardcore FM follower then definitely get this for the PC. If you're looking for something to pass the time and don't have a decent PC, then it is worthwhile getting this for the 360, but don't expect this to be as good as a PC version.