Older Xbox 360 consoles often got hot enough to burn toast, this is true, but they never looked that great doing it. Perhaps as a hat tip to that disastrous era, the XToaster360 looks hot, but toasts no longer.
The case is in fact a real four slot toaster, but the insides are all Xbox. Perhaps version 2.0 will employ some of the older RRoD parts, so this mod can serve as a proper toaster too. [Xbox360-Hacks via technabob]