To be honest I wonder about the price. The one thing a console has going for it is stable hardware. If you look at the PS2, it was about 6 years between launch and launch of the ps3, and considering that new games are still being released for the ps2, a console life of about 7-8 years. Contrast that with the X-box which had a time between launches of 4 years, and which microsoft appears to have dropped like a hot potato once the 360 came through. Based on that, the "fair" price for a ps3 (assuming no hardware failure is about double that of the xbox360.

I don't think that the extra graphics power/HDD/net makes nearly as much difference as having a stable platform for that long. I think, based on the ps2, that you could buy a ps3 this christmas and have a reasonable expectation that new games for that console will still be being released in 2015. Whereas the xbox360 _has_ to be cheaper, because the last game for it will be made in 2010 (based on xbox).