You can use Profiles on the 360 box to set up the EPG in a way that allows you to control exactly what you see listed for channels. The 'Default profile on start-up' profile will always show all channels. That way you can group favourite channels together and not have the hassle of having to scroll through the other listed channels that you may have no interest in.
Settings > Profiles > Manage Channels > Create a name for the profile then click on Next
Then click Create List and on the next screen move up and down using the navigation button on the remote and press OK against each channel you want adding.
Then use the Back key on the remote (just above the audio up/down buttons) and click on Confirm
This will take you back to the main Profiles section - from there you can select the default profile to be used on start-up, either the normal shared one, or the one you set up.
There is a Profile button on the right hand side of the remote, pressing this will switch the EPG between the Default profile or the one you set up