It is all about the multiplayer. If someone wants to play the campaign they can still play the campaign on the old disc however you cannot still play the multiplayer on XBL.
As long as they leave the multiplayer untouched all of the players who joined Halo after halo 2 will get to see why it is considered to be the best most competitive Halo multiplayer ever,
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wat Have you tried playing campaign on a 360? The screen glitches literally make the game unplayable as the entire screen messes up.