help with a possible trade...

I'd ask your friend to hold onto the trans. and sell the console yourself. I'm pretty sure you can get more than $200 for it if it's in good shape. When everything is said and done it'll cost a lot to convert. I'd just slowly gather the parts needed as money allows. Some things not mentioned were clutch pedals and your flywheel will need to be externally balanced to match your 360 (unless that's been changed)