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Well I already have a PS3 80gb and a Wii. I did have a Xbox 360 20gb at one time but sold it to my brother-in-law, which I regret a little.  I miss my Halo 3.

Anyways, I personally think that the new 120gb PS3 Slim is the better deal.  It has built in wifi, plays Blu-ray, and free online service.  Oh, it's also a great upconverter for DVD's.  As for the online services, I know that Xbox Live is a better service but at $50 a year, for us poor folk, it's a bit much.

I would love to get the new PS3 slim and a Xbox 360 Elite but I have a few things I have to pay off first before I can do so.  I would most likely get the Xbox 360 Elite first so that I can play me some Halo 3 and H3:ODST.  However, we'll see which one I buy first when that time, when I get the money, comes.