
Yes its an Xenon below 7371, so go for it.
If you want to jtag it on the cheap buy the stuff in the image below and wire the console up as per the image. Worked great on my launch console, Jtagged for less than £5, presuming you have a PC with a parallel port that can operate in SPP mode. (Usually a very old PC).
Hey BTW when JTAGing 360s, do you need to leave the Power cable on the motherboard?