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Also, I had to add... I see people saying that without one of the HD competitors, the other would raise their prices and keep it expensive.  I just have to ask, why do you think they would do this?  Do you really think they would keep prices high when nobody is buying their product?

The only way I see prices staying high is when people are actually buying the thing.  What this means is, the gaming industry would NOT suffer - maybe you, the consumer does (having to pay a bit more to play what you want).  Of course, I'm not an expert on this stuff, so correct me if I'm wrong.