1. If you save your profile on Memory Unit, then you can carry that profile from console to console. I have two consoles and I did that all the time.

  2. No, only one account is able to log in at one time.

    Furthermore, only one account is valid on only one console.

    So it is not really possible to have active accounts on both consoles.

    It works like this:

    If you log in onto your console, the gamertag gets tied to this console and storage device.

    In order to get it on the other console, you either use a Memory card or a recovery from the live service.

    When recovering on your friends console, the account on your console becomes invalid, and you need to recover it on your console again. Each time you will get new keys to the Marketplace downloads, wich will make it difficult to unlock games if you transfer them between consoles and one game doesn’t register a recovery process. So I highly advise against the recovery method to transport a gamertag to another console.

    The Memory Unit method is better than the recovery process, however, you can’t copy a gamertag. It is *moved* from one storage medium to another. So if you move it from your console’s HD to the MU, it gets deleted from the HDD.

    When at your friends house, and you copy the Tag to his HDD, it gets deleted from the MU.

    So in short: Account sharing will not work.

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