No. It is an Xbox with three games.

Ehm... ¿no comprendo?

Ok, the Massive Pack (link) includes two free games. Jet Set Radio Future and Sega GT 2002. If you purchase the Massive Pack (2 free games) you also get Halo free. So you get 3 games free.
So for the bundle you get:
1 Xbox
1 S Controller
1 copy of Jet Set Radio Future
1 copy of Sega GT 2002
1 copy of Halo

All for $200.

That is far better than Nintendo's current SMS & GC deal.

You said you would rather have 5 GCN games instead of an Xbox and 2 games.... But it comes with 3 games, not 2.

I said I'd rather have 5 GCN games than an X-Box with 1 game I like.

But that's of course very personal...

If it would have Halo, Fable and Halo 2 or something.... I'd think about it.

But I'd still rather play a friend's Box. :D

No place for another console, especially one as big as X-Box. :D ;)

Well, Fable and Halo 2 are kind of not out yet.

But most likely Microsoft will somehow bundle Halo 2 with Xbox Live, and maybe with the Xbox.

I know! :D Those were the only 2 games I could come up with that I really want to play. I think there's another one... probably one of the Star Wars games.... :)