I think its great on xbox, just lacks definition in the graphics which the 360 version provides. Yeah, hot swap allows you to look at another computer controller player and swap into his body, which works really well because theres nothing worse than choosing infantry and then a bloody big tank comes around the corner. Not needed in the PC version which is 99% mutiplayer but the console version has decent single player campaigns so its more fun being able to swap players depending on what you need to do in the mission.
I have the PC version aswell. Its a great game but only as mutliplayer. Personally I'm glad they ported the xbox verison rather than PC.