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I've owned one since early december, i also have 5 games for the system, i got mine pretty cheap off ebay, it came in under retail when the taxes are added if i went to the store, i just had to drive 1 hour to get it. My brother owns a 360 and everytime i play it i always fear the 3 redlights. The games look pretty much the same for each console, but they are two differrent styles of graphics, the xbox has odd lighting that can be seen in every game and it has some odd colours ingame aswell, This can be seen in games that use to much shaders and shadows get in the way of textures, the xbox also uses bright lighting effects to hide the bad texture effects, this was the same thing that was used on the last generations games to make them look better than the hardware would allow. The PS3 has more real life graphics, everything has the right lighting and feel to it. look at any 360 game and you will know what i'm talking about.