I cleared my Xbox cache, and deleted the 'Title Update' from the Skyrim folder on my Hard Drive.

Upon getting to the Skyrim main menu, it says "v1.00.4.0", which I would assume is the first released version of Skyrim.... correct?

So that means all the glitches, exploits, and bugs are back in my game, right? So I can do the Smithing Glitch (Iron Daggers) again, right? What other exploits were patched that I should be able to do again?

Smithing is the only one to my knowing. Oghma Infinium, Fortify Restoration/unlimited shouts all still work on 1.6 or whatever the heck we are on now.