More than enough games I want on Wii to keep me busy (and broke)
Too few games that interest me on PS3 (GTAIV, LBP... that's about it)
More likely to get a 360 if I get a HD console (Mass Effect, Fable)
Don't have a HDTV so that really devalues the HD consoles to me and makes Blu-ray a totally unnecessary expense
#1 reason - Cost. If it was $199, I'd seriously consider it.