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This whole "Backwards compatibility" discussion that's going on:
If you own an earlier Xbox console, can you play the games you already own?
If you own an earlier PlayStation console, can you play the games you already own?
If you've never owned an Xbox, does it matter?
If you've never owned a PlayStation, what difference does it make?
Do any of the games that aren't compatible interest you?

That's all you need to consider. Aside from that, backwards compatibility is just access to some cheaper, older games.