Wow.. someone else with any interest in this stuff..
I've emailed the guys from Datalogit about running it on an XBox, but with no reply. Simply running it on the Xbox on Windows CE (when its ready..) or under Linux (using VMWare or Bochs or something..) is an option -- the xbox has USB so it really shouldn't be that hard.
I agree that DataLogIt is quite expensive, but considering what kind of people would be interested in buying it.. its what the market can bear after all
What University are you going to? I work fulltime but am completing CompSci at Latrobe Bundoora (2 Subjects left) at the sametime.. I used to live up there and all. Small World