I have a few advices for you.
if you can't afford a devkit, then don't go to consoles and start with computer (PC/Mac/Linux) and/or Web based games as a start. Then look for the opportunity to go for console games (downloadable ones). You might try XNA to work on XBLA but don't put your hopes up unless you have some experience.
I started with 2D games with GameMaker (http://www.yoyogames.com/gamemaker/) Many dismiss this one but you can make a lot of games without any code at all. and the pro version only cost $25.
If you want to make 3D games and your budget is small like mine, then I recommend use a game engine that is simple and easy to use and has everything you need to publish a game without the extra stuff (and cheap/free XP)
- Blender
Blender has a game engine based on Ogre, it's a decent engine (I made my first 3D game with it) but it uses a lot of resources of your computer when you play. It's a good start but I recommend to move to something else.
- Unity : http://unity3d.com/
This engine is free to use and to make commercial games. It has an in-game scene editor, terrain editor and your code is divided in scripts so you can separate actions easily. It has pretty good tutorials and you can code in three languages : javascript, c# and boo(python). You can publish games on Windows and Mac platforms and even on the Web. You can later upgrade to get the Pro edition. It can read Blender Files without the need to export anything, so you're good to go. with the tutorials you learn to code a bit but you can learn as you go with tutorials on the web (no need to get programming books). It has physics, audio and networking out of the box
- Panda 3D: http://www.panda3d.org/
It's another free engine. but a bit more complex than Unity, since it doesn't have a game editor out of the box, but you use python to code which is one of the easiest languages to learn yet flexible and powerful (you can move to c with no problem later on). You can make computer and web games with it. It's completely free with no extra licenses. It doesn't read Blender files out of the box but with an easy exporter you can work without issues. The tutorials and manuals are excellent. It has physics, audio and networking out of the box.
There are other engines like Torque (which I don't like) and DarkBasic (Good but limited) , DarkGDK (simple but you need a licence). Later on when you have more experience and more people to do some code, then move to other engines
I hope it helps