IS WILDBLUE GOOD FOR XBOX360 GAMING

Due to the distance to and from the satellite there is a time delay between you sending a packet to an internet server and the server returning it first data back to you.  The delay is due to the distance and does not affect the bit rate available.  

The time delay is fixed, about 240mS for a complete one way hop, up and down via the satellite.  This will be a severe disadvantage in any game where "who clicks first wins".  You will always lose.

The bit rate (speed) available depends on your tariff choice.  For domestic customer use, the bit rates offered are shared with quite high maximum values (1 Mbit/s or more).  The average bit rate allowance is typically 10 to 20 kbit/s, so for example between 2000 and 1000 people might be sharing 20 Mbit/s of the downlink capacity.

There are limitations regarding the number of Mbytes downloaded per hour, day or month in oder to fairly share out the maximum bit rate provided

Similar sharing occurs in cable modem systems and in ADSL systems (at the telephone exchange).  However the advantage of cable and ADSL for gaming is that there much lower transmission time, compared with satellite, and thus no significant delay at the start.
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Best regards, Eric.