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Like everyone has said before, the 360 has hidden costs, is protected by mainstream cluelessness, and came out a year before any competition. On the hardcore side it has a strong fanbase who NEED their Halo, regardless of how many times they need to get their console repaired.
PS3 sold more consoles on the same timeline as the 360 and continues to even outsell it now, and even though 360 just had a price drop, the boosted sales are virtually gone already.

360 is not a bad system. If there was no PS, I'd have an XB.