I think a 'lite' version of the console should be implemented for us Xbox and PS3 players. No tgm or anything, just codes that CANNOT break the game or the console (as I think this is what Microsoft is worried about), but ones that can be used to fix bugs.
TCL to get out then stuck is most obvious, probably also advance current quest on step to deal with broken quests.
For abuse, tcl is actually worse as it's not only levitation but you also have the option to hide inside a wall or rock, with a weapon with long range you can kill any enemy but he can not hit you.
Advance quest might easy do more damage than it solves depending on the actual quest and stage.