It looks much sleeker than the 360. The glossy finish makes it look like a high-end piece of electronics and since it's black will blend in much better with people's entertainment systems.
Most people who have bought electronics fairly recently probably have silver equipment. The only thing black in my entertainment center is the satellite receiver.
That's one nice thing about the 360 faceplates. Although I would never waste my money on one, people who are picky about having matching everything in their entertainment center can get a faceplate to match just about anything.