dcharlie - how does it not have value clinched? Ignoring the actual libraries, for $50 more you get a similarly capable console with Blu Ray thrown in.
Ignoring the actual libraries is a pretty major thing to ignore though is it not?
Infact, it's THE thing that defines the consoles.
it's only of value if it has the content - and , to date, the masses have spoken with their wallets.
On a bulleted list you can put the value of the console as seperate from its library, especially multimedia consoles like these two.
What you're getting in the PS3 box has more value than the 360 box, hard to argue otherwise. Step 2 is to look at what you can play on it, where 360 wins for the logical person.
Someone who has an HDTV and only plans to buy the big 3 or 4 titles per year, PS3 wouldn't be a bad recommendation at all. Premium should really be $299 at this point. Arcade isn't a bad value IMO either.