I bought this because I recently bought Splinter Cell Conviction for my Xbox 360, and I wanted to also play through the older games. While this, and the other games in the series that pre-date the 360, are obviously not as good graphically, they're still fantastic fun to play.
I haven't had any problems playing this on the 360, and in fact I'm quite impressed at how well it works. Don't buy this if you're expecting up-to-date graphics - buy it because it's a lot of fun, and a challenge which absolutely has to be mastered to understand Sam Fisher's background and history.