I've been playing the 360 version game for an upcoming article, and the save file bug is a major hit against the game. Truthfully, it shouldn't have hit retail with a bug this frequent and obvious. And while the bulk of 360 owners may not have this problem, there's still a sizable chunk out there who have yet to get their consoles online, so a patch won't do them much good. Having said that, though, the game itself isn't bad at all.
One thing I want to add, though, you don't HAVE to create a new save file every time if you don't want to keep track of twenty files. Just as with loading from the Autosave, if you exit to the dashboard (presumably to completely clear the cache), then restart the game, you can load from your single save file, overwritten or not, and continue on. Either solution is a pain, but at least keeps the game playable.
