Although I don't work directly with the Xbox LIVE security folks, I've got a friend or two over there. They work extremely hard to do the impossible: preserve the perceived value of achievements and leaderboard rankings in the face of an untrusted client. Being the talented folks that they are, they are surprisingly successful.
Let me tell you: if your service garners any success (and I wish you the best of luck!) you will encounter widespread cheating. For friends-only leaderboards or achievement lists, this may be an acceptable victim-less crime, but global leaderboards or stranger achievement comparisons will be a problem.
Xbox addresses this with "secure" hardware, but still faces significant cheating. Constant patrol is needed to fix the broken windows. Do not underestimate then desire of some individuals to ruin the fun for everyone. Just because you don't see why you would want to do it doesn't mean people won't.
Good luck :-)