Well if I was gonna choose simply based off of that list the PS3 would wins hands down.  But since games are the deciding factor for me (Shock!!!) I would go with the 360 Elite. 

PS3 Slim. I already have a Wii and 360 and I've been waiting for the slim to release.

I'll get a 360 Arcade when it goes down to $199 in my local currency. Unless by that time I've got a PC that is powerful enough to play all the 360/PC exclusive games that I would like to play. Of course by that time we may very well be into the PS4/720/WiiWee generation and all those intriguing 360 games might be a bit passe by then.

Odd that 360 Elite comes with HDMI when you can't watch HD movies (on disc that is) but PS3 IS an HD movie player but you've gotta buy the HD cable separately, not that a decent HD cable costs much these days.

^^the new 360 elite no longer includes HDMI.

I'd get the slim-line in all honesty, more bang for your buck for alot less.

If ya got the elite you'd end up spending more money.

And as for the Wii... no opinion...

As far as the arcade goes, its for single player games only such as exclusives IMO, great deal but for people choosing it as a main console they'd have to tweak and update the gear for it to be a true HD console which would end up costing as much or more then the slim.

So if i were a new gamer looking forward to enter'n this gen it'd be PS3 first, Arcade 360 next and then the Wii. (Arcade will be updated later of course to the maximum.)

Nice list of things.

I didn't know that. So the Elite didn't get a $100 price cut then, it got a $100 - [however much the HDMI cable retails for] price cut.

Just out of interest what's the difference between the Pro and the ($399) Elite? The differences I know of are: Console colour, HMDI cable, 120G HDD, wireless headset. Are there any other differences?

ps3 slim :)