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No one has pointed out that the PS3 plays BR discs. One of the big selling points to me for getting the PS3 was the fact that I have a big HDTV and wanted to see it in it's full glory and thus the built in BR player makes a lot of sense. I wouldn't buy the 40GB model, I saw the 60GB model getting blown out at Sam's Club for $460. Along with the 5 free movies, it's a good deal just as a BR player. If it's purely about the games, get the 360 but be prepared to shop to make sure you don't have the older h/w. However, I have seen reports of even the falcon chipset RROD. MS' quality control seems to be pretty shoddy, but at least they have the 3 year warranty.