It is my belief that there are many games that would translate very well into Live Arcade titles. FFG really needs to expand into this area. You would be hard pressed to find a game that wouldn't do well. Imagine playing Horus Heresy or Runewars on a simulated board with everything tracked by the game.
One other thing that people have never really done before was to create a virtual play environment for RPG games using the 360 as a tabletop. You could have a GM "run" a game using tools in the program to allow you to show the dice rolls, track encounter info, etc. all the while using the headsets and cameras for interaction. You can use the "party" system to do this somewhat right now, but it could be tailored for the system.
Just my two cents.