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Are these basically the same or would one be better than the other? Will I need to upgrade my computer's video card and stuff? What are some of the advantages and disadvantages for both?
well, it depends if what video card you already have. The lag will be slightly better than XBC too.
It all depends on you internet connection and PC specs. If you have a crappy PC, stay with the Xbox. If you have a decent PC get Halo PC then download CE and play that.