For those curious...I tried the "Ethernet Method" on my 360 ZERO Prestige, level 65 account. Once I hit "ENTER PRESTIGE" and saw the Level 1, Prestige 1 icon, I pull the plug and turn off / on my 360. All it did was "unlocked" the prestige achievement and I am back to Level 65, ZERO prestige again.
So either this method doesn't work for the 360 or you may have to be at least level 1 prestige to try this.....in the end...no harm's done..I am still level 65 zero prestige.
If anyone has a glitch / method for 360 that is working..let me know...I am willing to give it a shot.