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That router is fine but for gaming, latency can be an issue... as Nou stated. I'd go hard-line for gaming systems, but that's just me.
As far as the more expensive wireless routers go, most of them just basically allow you to connect more systems and operate further from the router itself. You don't need anything more than what you have for XBL.
And you don't get any more or any less from your Internet connection by running a router. You get the same amount of bandwidth that you would get without the router. You're just basically splitting the available pipe in your house between a PC and the X-Box. This means that you can operate one system and use up the full pipe... or you can use both and basically "split" the bandwidth. (Although your PC will likely hog most of the available resources, causing a lot of lag in your X-Box games.) In other words, you should be alright unless you have a shitty Internet connection and so long as you aren't downloading something while you try to play a game on your X-Box.
BTW... X-Box means it used to be a vagina. 
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1. Utah Saints - Lost Vagueness (Oliver Lieb's Main Mix)
2. Klea - Tic Toc (Paul Van Dyk's Re-Edit)
3. Alibi - Eternity (Inner City Mix)
4. Cirque de Soleil - Pokinoi (Sasha Mix)
5. Chris & Kai vs. Levin - Gone to Heaven
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