That's what I've done, my 250GB HDD is almost filled up but that's okay as it's content I wanted and would have never gotten it in the same quality but rather inferior and compressed (YouTube). Plus, the games/arcades themselves hold media files in them worth preserving too. You know, it's impressive that Microsoft gave so much liberty to its users to let transfer games/demos/videos freely to a USB or HDD without locking to the console itself like Sony did on PS3. And it's pretty easy to extract the files. Already snatched more or less all that I wanted but there's always something else worth grabbing. Don't end up being like me sometimes: "I should have gotten this when I had the chance! "