the Interceptor
I LUV MY PRIUS!!!
You can't use the mic-in at all. It's the same jack, but it's an input, and thus only receives signals. Basically, whichever source you use (Laptop, tv, Xbox), you're stuck with stereo through the line-out. I'm not sure whether that works with the X-530 though. At best, it will generate fake 5.1 sound, at worst, it will only feed the front speakers (without the subwoofer).
You might want to spend more for a system that has more than one input and a digital one for the Xbox.
You might want to spend more for a system that has more than one input and a digital one for the Xbox.