Terraria on 360 is Superdope
If I had to sum Terraria up with just two words, they'd be Freedom and Depth. Much like Minecraft, you have a free open world designed to let you build or destroy to your heart's content. Unlike Minecraft, you'll be exploring a 16-bit 2D world that does not penalize you for using your tools.
The following are the categories of gamers who I believe will enjoy Terraria the most.
Explorers - If you are an explorer, I'd very comfortably say you cannot afford to pass on Terraria (if you haven't already played it on PC). The amount of world to discover and the sheer amount of things to do are unmatched by any Xbox Live Arcade game I've ever played (aside from Minecraft, of course). On the flip side, more casual explorers may find that Terraria gives you too much freedom and may have trouble focusing on a given task or adventure.
Builders - Builder and Explorer are my two strongest categories as a gamer and Terraria had already monopolized about 50 hours of my life. There is so much to do and so much to see. You can spend hours farming the resources to make better equipment or just simply making additions to your various homes. The world is literally there for you to destruct and reconstruct as you see fit.
Action Junkies - As much as Terraria focuses on exploring the vast world and building new homes, weapons and other items, there's also a good bit of action. The action appears in the form of fighting enemies from common monsters to crazy boss fights with giant skeletons. With that in mind, know that Terraria will often throw enemies at you at what will feel like inopportune times. Some gamers may find it annoying to be attacked by a Zombie hoard while trying to mine for gold. Also, the interface to select tools and weapons can encumber your ability to fight in certain situations. None of these issues are game-breaking, but they will pop up from time-to-time as minor annoyances.
Collaborators - Collaborators can also find a home in Terraria with the game's online co-op and pvp systems. Having friends along for the ride can make some of the more tedious building segments more enjoyable and some of the more difficult bosses more manageable.
Audiophiles and Visualists will be treated to a hyper-colorful 16-bit retro buffet as well as an intoxicating soundtrack that adjusts as you explore.
I was really looking forward to playing this on Xbox 360 after reading about the PC version and I'm happy to report that I was not disappointed. If you are an explorer or a builder, don't miss out on this game. Just be prepared to lose several hours of your life to the experience.