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The price would be above the X360 and thus stopping a lot of potential casual buyers (who previously owned a PS2) from coming aboard. The games' gameplay would pretty much stay the same, so the only noticeable difference would be the graphics.

For those reasons I actually think another question would be more interesting: What if Playstation 3 wasn't HD? Would its games/gameplay be enough to catch the audience who decided to buy a Wii or maybe even the X360?

Sorry, I'm not trying to derail the thread. Just raising a relevant question