NJ5 said: Considering that HD is one of the main reasons why the 360 and the PS3 are quite expensive, and probably one of the reasons why GTA4 will cost $/€ 60 instead of 50 as was usual before, I'd say yes, HD will hurt GTA4 sales even without counting in the factor you mentioned.
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Bah, NJ5 mentioned the real problem with GTA4 sales mid-post.
There is no such thing as a console war. This is the first step to game design.