PS3, Xbox 360, Wii

PS3
As you all will no doubt have heard the Sony PS3 is going to be released in the UK next month and it is going to cost £425 for the 60 Gb premium model. Is it worth paying such a sum of money for a games console? It is a very powerful and revolutionary piece of kit, here is an article including the full specification for the console: http://playstationteam.com/ps3_specification/
What is interesting to note is that like the battle with VHS and Sony's Betamax, there is to be a second one - HD DVD and Sony's Blu-Ray. VHS, despite being the least advanced won the battle, but the PS3 has been designed for Blu-Ray, Sony are evidently confident that this time they will win the battle this time.
What you must bear in mind in the cost of the PS3 is that it is technically cheaper than what the PS1 cost which was £400, I believe. This is because of inflation, and also a much more technologically advanced console costs merely £25 more than its grandad.
If you are interested in the history of consoles then this Wikipedia article may interest you: http://en.wikipedia.org/wiki/Video_game_console_sales

Xbox 360
I have quite a limited knowledge of the Xbox 360, but I have played one many times, can't really be bothered to talk about this much, we all know about it.

Wii
Having played a Wii several times, I can confirm it is a fantastic console, despite my doubts about it early on before it was released. The controller is what everyone talks about really, once you are used to it you will love it and going back to the good old Joy-pad will not be so easy...