One of the main selling points of the 360 is its costs. It's interesting to see people who have basically chosen the Sony side of things now finally start to debate over weather or not to get a second console, simply because basically the most customizable version of the 360 is really, really cheap. With an arcade, you can be certain you are getting the latest 360 chip now, because of the internal memory design change that accompanies the new chips, so yeah, it's hard to not thing about buying one.
The 360 is easily worth the 199 price tag.
The same cannot be said for the PS3, and even if it could be said, 399 is still a lot of money, worth it or not.
The more I think about it, the more I believe that the 360 might just have a chance to hold on to 2nd place this generation. It'll all depend on Sony and their aggressiveness in price-cutting.
On topic, there are quite a few exclusives on the 360 that easily make the console purchase worthy. If you don't have a gaming PC, or a PS3, the must have choice is the 360 right now, so you can play most of the big AAA HD games without having to spend much time or money accuring the platforms on which they are played. If you already have another HD platform, 199 is a very reasonable price to simply play the upcoming and previously filed Xbox 360 exclusives.
A few I recommend are Tales of Vesperia, Gears 2, Crackdown, and Fable 2. If you only have a PS3, let me highly recommend L4D, Gears of War, Mass Effect, and you should also probably rebuy Fallout 3 or GTAIV, because the DLC coming for those games to the PC and PC360 seem like they might be epic in scope.
I don't need your console war.
It feeds the rich while it buries the poor.
You're power hungry, spinnin' stories, and bein' graphics whores.
I don't need your console war.
NO NO, NO NO NO.