Guitar or Xbox 360?

Ok, so I got $500 with me. I really want this Epiphone guitar and it costs $500. My dad will get me a new amp for it. Also, I have a crappy Fender Squier Strat, so I want a new guitar and amp. But anyways, I also really want an Xbox 360 Premium which is $350. I plan on getting a game, another wireless controller, and Xbox Live 12 month subscription. That adds up to $500. Which is better to get? I really need some good answers. Thanks!