Definitely the PS3. I think there is no discussion about that. The question is if you NEED everything the PS3 has.
And the Wii is grossly overpriced but if you always sell all your shipments there are no pricing pressures.

The 360 Arcade model at $199.99

It varies by the individual of course...

For me PS3 then Wii then 360 last.

The 360 provides me with the best value for my money. By far.

Well I think there was 360's going for £130's in at gamestop which is almost as cheap as a PS2 , I think if you wannna game in current gen it's a great option.

Do people here really understand the concept of value for money ?

"An expression describing the benefit obtained from a product"

A PS3 at it's best will give you a

Themed Background
Blu-Ray Player
A PS2/PS3
A Web Browser
An Operating System ( Linux)
Movies on Demand
Games on Demand/Which you can play on friend's PS3.
PSP Connectivity
Swappable HDD ( cheap)
Motion controls
>>>>>>>FREE ONLINE GAMING

Value is only ever perceived..

For me its the Xbox 360. Great Games at a great price point.

If you like your HD movies and are not as bothered about the available games then the PS3 will probably come out top.

Finally if you've got kids and just want a fun universally pleasing console look no further than the Wii

The individual benefits really don't add up like that.  I never had an Xbox, but I believe it had lots more features than the PS2 did - still, we couldn't say it had more value, could we?  The library of a console is definitely worth something.  For the price of a PS3, you can buy a Wii & $150 worth of extra games (on top of Wii Sports).  It also opens up BC for GC games, while the PS3 has killed off their PS2's BC.  Of course, it all depends on what the buyer wants, we can't objectively say what's better for everyone.

Also, as much as I hate to admit it, if the 360 price drop rumors are true it's looking like an amazing deal.  The library right now is at least as good as the PS3, and its future isn't looking bad at all.  If I didn't hate Microsoft so much (& didn't care about LBP / Team Ico), I'd take one over the PS3.

To anyone that will complain the Wii is overpriced, I think you're wrong.  If anything, the fact it's sold out after nearly 2 years means it holds more value to people than its current price.  Value is NOT looking at the 3 consoles and seeing which company sells their product at the biggest loss.  I could duct tape a bunch of unrelated crap onto a console but that wouldn't really help the buyers, would it?  People don't buy consoles to take it apart and sell its parts.  GTA4 is not a better deal than LBP because their game cost more to make - things are only worth what the consumer is able to do with it.

Umm... You guys is crazy.

The wii is obviously the best value for the money because you still can't get it anywhere. Resellers to this day are getting a 50+ $ markup. If the wii wasn't worth 250$ nobody would pay 300+$ for it. Plus you get cool motion controls which are way more valuable than cool graphics to me (If I wanted awesome graphics, I would buy a computer with a state of the art graphics card. If you want great motion control your only option is the wii.)

In all honesty, I gotta go with the 360. As a console only, the PS3 has pretty much everything you could want. The 360 without a doubt has everthing you should need.

Why it's so hated is a mystery to me.

PS3, though given that I bought the 360 much later in its life, it was more value for money, so I got it for only £200