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I'd go for the Xbox 360 at Christmas. The price will still be $299. But they'll likely come out with a holiday pack where they include 2 games free with the system. Additionally, while the $25 gift card is nice, you are likely to get some sort of specific store sale in Christmas where either the Xbox price is lowered to get people in the store buying games or a buy a 360 get any game of your choice free sale.