i would like to know weather the, 64mb memory unit acts just like a smaller version of the harddrive? Will i be able to create a gamertag and play in live? Will i be able to save atleast one save from Elder scrolls 4: Oblivion? And will i be able to save about 5-7 diffrent games saves on it at once?

Any help would be much appreciated. last of all does anyone know where exacly tou put it in the console itself?

you put it on the front of the console in the memory unit slot
yea u can do that i have 5 games for the 360 with it and i play it on line withe the memory unit u can do it lol i do it like that 1 thing u cant do is have have any of the media things that is u cant do
Xbox 1 Memory Cards were amazing the abilty to save over 200 saves on 1 8mb card was brilliant and live accounts could be taken from place to place.
Remember essentially all it is is some sort of code which tells the Xbox what parts of the disk to read so its not like proper Maps etc. so from that a 64mb for the 360 should be wicked over 1000 saves i would hope.