I feel the same way, but unfortunately it's probably the way of the future. Although, what might be cool is if, one day, you have one, big, super fast computer somewhere in your house, and all your other devices connect to it and use its processing power. I like that idea better than using some server 100 miles away.
I work for BT and got one of the consles and a VIP account for free. It can be quite laggy at times but for the most part its fine, not a fan of the controller tho its too big and clunky. They are trying to aquire more games for the service at the minute, and if your not on an unlinited bandwidth plan with your isp be carefull as it eats a lot of it.