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If Apple designed an iCouch (or whatever silly name they landed on) that incorporated everything I needed for the livingroom, with TV, movies, games, apps, internet, music, and similar on hand, all with a reasonably priced app store, all integrated with iPhone, iPad, iPad, and similar (oh, and Mac), I'd probably buy one if the price was right.

It wouldn't really be a games console, but then this is Apple, they would likely attack the market from a different angle (further, is a PS3 or 360 really just a games console, anyway? well, no). It would need it's USP, but Apple would likely come up with something if they put they're boffins on it.