This is a good question. I have been thinking about this recently. I say as value or 'bang for your buck' would be the 360 Elite. Why? 1. Right now the free part of Sony's online has only one benefit over MS silver package and that is actually playing games. However, with the silver package and MS new 160HD I can download HD movies and such. Until HOME is officially release Sony's overall online package just doesn't compare. 2. The 360 Elite is $120 less with 1/2 the hard-drive, which is important for my #1. The Blu-ray player is less important to me as I would rather DL the movie for less money than buying the Blu-ray disc. The the player in itself is a great value for that $120 never the less. 3. Most importantly the current game options are by far a better selection than what PS3 has to offer and that is the most important part of value to a GAME SYSTEM. So, for now I would feel much more cozy and warm buying a 360 Elite than the PS3. However, the separate upgrade price of $180 for the 120G harddive is a huge ripoff for current 360 owners. If I am not mistaken though they could just buy a usb external drive for probably half that cost.
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