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Yep. A friend of mine went out and bought a 360 immediately after seeing how much better CoD4 played online on the 360. Another friend of mine bought a 360 a while ago, and he was hardcore PS3 lover. He bought it because most of his friends had a 360, and he wanted to play the games like Halo, Gears, Mass Effect, Call of Duty, etc.

I've heard lots of these same arguments around the university and it seems pretty clear that in the US especially, the 360 has the "my friends got one too" card.