I use cobalt fluxes on 360, no adaptor, but I had to do a little modifying ( less than 20$ worth of parts from radio shack), if anyone is interested in how to do it, the process is outlined here:
http://www.sinistarddr.com/It takes a little soldering, but it's not complicated (ask a techy friend if you don't have the confidence). In fact, any pad could be made to work with the 360 by using the appropriate kind of connector.
Pretty much all you do is separate the pad (the buttons) from the control box (the black hard plastic thing at the top). The control box is where the circuitboard is housed. Throw away the pad and connect a 15-pin connector (or whatever type of input your pad of choice uses) to the circuitboard. You also need a start and select button since they aren't on most dance pads.
For my second one, I didn't even have to solder, I just took a 15 pin cord, and taped the appropriate wires to the corresponding leads on the circuitboard with electrical tape. This means that I don't have start and select, but since it's my second one, I don't need them.
As for the price, the good pads (Cobalt flux and Blueshark) aren't cheap, but keep an eye out for deals on ebay and Craigslist. I got my second CF almost brand new on Craigslist for $160. Even if you do end up biting the bullet and laying down full price for a Cobalt flux, it WILL be worth it in the long run if you plan to stick with DDR for a long time.
EDIT: forgot to mention, the link gives instructions for xbox, not 360, but the process is identical. Also, when it says you need a madcatz Beatpad, you could also use the Konami Original dance pad included in any of the universe bundles.
I'd rather lose with E.Honda than win with Sagat!
