Have you considered an MXIII android media player from AVSupply? It does cost a bit more than a Chromecast but you will be able to do a lot more with it. I think that you will find that it will be a much more capable replacement for an Xbox 360.
http://www.avsupply.co.za/product_i...-1gb-media-player-with-android-and-xbmc-p-437
This is the cheaper option ...
http://www.avsupply.co.za/product_i...080p-media-player-with-android-and-xbmc-p-698
I use mine to watch Netflix, free Hulu, Hulu Plus, YouTube, VEVO, XBMC (1channel, ProjectFreeTV, Navi-X, Mash Up, SportsDevil, 300 Live TV channels using vdubt25) and much, much more. You can even watch HD Acestream sport streams via the Torrent Stream Controller app, record video from IP or web cameras using the TinyCam Monitor Pro app etc. It comes with a fully functional web browser which you can also use to stream from websites like
www.usdrama.net,
www.shush.se,
www.cricfree.tv,
www.wiziwig.tv (live sports) etc.
https://play.google.com/store/apps/details?id=com.alexvas.dvr.pro&hl=en
It has an HDMI port, an A/V socket to connect to older CRT TVs, optical output etc. It operates completely silently and can play back most file formats in resolutions as high as 4K. It uses a quad core S802 processor which is a lot more capable than the single core processor in the Chromecast. The unit comes with all the necessary software and XBMC add-ons like 1channel, ProjectFreeTV etc. preinstalled so that you can start streaming as soon as you turn it on. It operates completely silently and does not require any fan as it uses passive cooling via a heatsink. It has most of the capabilities of a decent HTPC at a much lower price point.
Take a look at the streaming options for tonight's FK Zenit / Benfica UEFA Champions League Game. You can either use a web browser or install Torrent Stream Controller/Sopcast to watch these HD streams on the MXIII.
http://www.wiziwig.tv/broadcast.php?matchid=286904&part=sports
Here are two videos for a similar machine with slightly higher specs (same motherboard, 16GB flash, 2GB Ram, external antenna, game controller etc.) if you want to see more.
https://www.youtube.com/watch?v=pg1WScgdRLQ
https://www.youtube.com/watch?v=vtGrudXE03I