Originally Posted by CHIRUNO99
Arcade Mode is the pure arcade mode. All the difficulty and everything intact.
Xbox 360 Mode is changed in a few ways. Normally a filter is applied for the graphics so they look less pixelated, the difficulty is toned down. You bomb when you're hit which saves your lives but you can't select your shot type. You can only play single player but you can switch between characters.
and naturally Black Label is Balls to the Wall hard mode.
No, your completely incorrect.
As far as I know there are not too many differences between arcade and 360 mode besides 360 mode having higher resolution graphics. The slowdown accuracy may however be slightly different.
Arrange Mode is the one where you control both characters at once and has an auto bomb. Black Label is most certainly not harder then 1.5, its far far easier.