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Yeah, windbane has a point. It seems people here always talk about some magic $200 to $300 price difference because of Blu-Ray when the difference between the Elite and the PS3 is actually only $120. The PS3 has built-in wifi, memory card readers and free online (and the Blu-Ray drive, of course) while the 360 has 120GB hard drive (proprietary) instead of 60GB (2.5" SATA). If you ask me, the 60GB difference in hard drives is worth $30 (@ $0.50/GB for 2.5") while the wifi and no-subscription fee online is worth more than that, so the cost of the Blu-Ray is actually $100 or less for consumers.  I'd say the cell chip is worth more too, and the emotion engine chip is worth $50 versus just software emulation (in 360 and PAL PS3's).