Asking which is a better value; the Xbox 360 or the PS3 is like asking which is a better value, a Ferrari or a Lamborghini. Most of the people who are buying these high end systems don't care about value. That said. I have a 360 that is out for repairs. If I get it back and I still have problems, I'm going to get rid of it and buy an Elite. If it works, I may just buy a Blue Ray player, that also plays PS3 games.