$299 360 elite - or - $299 ps3 slim - or - $249 Wii - or - $199 360 Arcade

[DragonLord]

The 360 is no longer bundled with HDMI cables...they're just giving standard composite cables now too....

 http://xbox360.qj.net/HDMI-cables-no-longer-bundled-with-new-Xbox-360-Elite-models/pg/49/aid/133924

But anyhow, I have all three systems and bought them all at launch (meaning I think they're worth every penny they originally sold for).  But for current price, I'd have to say the ps3 slim is the best deal.