Wii:
Great games lineup (What else do you expect from nintendo?)
Great motion controls. (Not perfect, but its the first new thing in gaming since analog)
OK graphics (Better than my PS2, which is what most people are upgrading from)
::Will buy one someday, when i have some money::

PS3:
Average Games Lineup (Nothing too great, but the demos i played were fun)
Great Control (I am a huge fan of the dualshock, idk what you think, i like it)
Excellent graphics (speaks for itself)
::may buy one at end of gen::

360:
Great Games Lineup (Best 3rd party support)
OK controls (The 360's controller i just don't like)
Excellent Graphics (About the same as PS3)
::Not gonna buy this gen, too scared to invest in a system that may RRoD on me after warranty, however if quality improves at end of gen (Especially with a slimline) i may buy after the generation is over and it's for sale cheap at gamestop::

I didn't mention online cuz i have dial up.... so yeah

wii- why i like, zelda, mario, pikmin coming in futre
ps3 why i like and will buy in future.. team ico futur projects and little big planet
xbox- why i like and maybe will buy in the future i want to play lost odyssey and star ocean 4

wii
what i like: innovative and interactive controls.
what i dont like: i dont like the fact that i dont have one

xbox360
what i like: lots and lots of games available already plus lots of jrpg
what i dont like: "reliability issues" plus i also dont like the fact that i dont have one

ps3
what i like: exclusive titles like mgs4 and uncharted plus ffxiii is coming to the ps3
what i dont like: huge as a whale.

 True, but it has got the best controller and the multiplayer is unmatched thus far.

i only own a ps3

what i like

exclusives that I actually want (MGS4, Socom, LBP, *hopefully* Dark Cloud 3)
online taken seriously, but still free
original PSN titles
comprehensive media functionality

what i dislike

where the fcuk are the PSN cards?
Mandatory installs take up too much HD space
if I want to stream media from my mac to my ps3 I have to buy software (no thanks)

wii

what i like

the original games that put a smile on your face (ie: no more heroes)
really fun multiplayer games (ie: boom blox, mario kart)
new games are $50 or less

why i won't buy one

my friends own them so i get to play whatever comes out
$250 is too much for what you get
peripherals are getting out of hand

x360

what i like

all the live functionality
some original XBL games

why i won't buy one

paid online play
reliability
already own a ps3

But it doesn't appeal to the casual userbase, only the hardcore... and iclim4.

Wii:

-What I like-
Awesome games
Has wi-fi
Has Brawl
Motion controllers
It's small and pretty
Has Brawl
Plays my Gamecube games
IR pointer

-What I don't like-
Steals my life away
VC games are a bit on the expensive side
Brawl kills my controllers

Xbox 360

-What I like-
Cool games
OK graphics
Nice controller
Great RPG lineup

-Why I won't buy it-
If I get a RRoD I'm screwed
Probably won't pay attention to it thanks to my Wii
It's big and ugly
The best Xbox 360 games are on PC

PS3

-What I like-
It has MGS4
Plays Blu-ray

-Why I don't buy it-
Multiplats seem to be worse on it
Has many hassles from PC (installs, patches, updates, etc.) without receiving the same benefits (mods, better graphics, online, etc.)
Not worth the price tag for me
Games are more expensive
It's big and ugly
I hate the Dual Shock form factor
Doesn't has many games that get my attention
I hate Sony

Own a PS3
What I like
It runs my entire media library from my Media Server with Tversity. Can access all that content on the road with my PSP. Blu-ray, and it plays all the games I like....HSG, MGS, NCAA football and GTA IV. Online is free.

All my friends have PS3

Blu-ray is the #1 reason for my second PS3. Bought it to go with the bedroom HDTV as it is the best Blu-ray on the market, plus Tversity moves all my media files into bedroom.

Own an XBOX 360
Friend gave it to me, but I don't play it. Used it to play GRAW with him, but when my 3 month live sub ran out....i didn't renew.

What i liked about it.
Windows Media Center extender. I could extend the HD Tuner card in my computer to the 360, giving me DVR abilities in the bedroom. Cool feature, but then I bought a second DVR from Direct TV. Same Tversity featurs as the PS3, but without the Blu-ray player...so it lost its spot in the bedroom.

Wii

I don't own. Played it once a friends.

What i liked about it.
It was tons of fun, all of my non gaming frieds were willing to play it.
Why I won't buy one.
I just can't see using it unless friends are over...and isn't that what Rock Band is for.
Wife almost bought one when Wii Fit came out, but I talked her out of it when I showed her the treadmill in the garage that she doesn't use.

WII

What I Like:
-Great first-party titles
-Simple, intuitive UI
-Awesome downloadable content
-Full backwards compatibility
-Innovative controls offering options I've never seen before

What I Don't Like:
-Poor third-party offerings thus far (will likely change by the end of this year)
-Lack of HD
-Lack of digital sound


X360

What I Like:
-Great selection of titles
-HD
-Best classic-style controller ever made

What I Don't Like:
-Cluttered, unintuitive interface
-Deceptive "MS Points" buying scheme
-Lack of built-in TOSLINK port
-Lack of software BC for a lot of really good games


PS3

What I Like:
-Upscaling PS1 and PS2 games
-Cheap, downloadable PS1 titles
-Some interesting-looking games

Why I Don't Have One:
-Hardware backwards compatibility no longer available
-There's only four exclusives I want to try: MGS4, Uncharted, Ratchet, Resistance
-Software library overlaps too much with the 360's, which I already have
-If I wanted Blu-Ray, I could just buy a BD drive for my old Windows box
-Large game installs

Xbox 360:

- Has a large and diverse library that is only getting bigger

- Multiplayer games galore with exclusive titles such as Halo 3, Gears 2 etc.

- Xbox Live is the best multiplayer experiance avaliable

PS3:

- Good Exclusives, MGS4, Twisted Metal, God of War

- Blu Ray

- Great Quality vs. competition