Huge? Your overblowing it a bit. I've seen a handful of people complaining about the loss of the FSP, but they are the same people who were ardent X1 defenders, and they are vastly outnumbered by gamers who appreciate the change.
Honestly, I don't get the hype about Xbox Live. I own a 360, and I've played Live through free trials and the occasional free weekend. It's fun, but it could hardly be described as being leagues above PSN . While Live may have more 'social' features than PSN, those features aren't worth 60$ a year to pay for.