Console Buyer's Guide

In General
REMEMBER THE MOST IMPORTANT RULE is to consider your own needs and situation; brand loyalty will only benefit the corporation (take a look at Microsoft). Some of the issues you might like to consider are: At the end of the day, it's your purchase, and your money. Make sure that you won't regret your buy, regardless of what /v/ thinks. And remember, if you aren't having fun, you're doing it wrong.
 * 1) Consider the reasons you have for getting a console; Do you want internet multiplayer? Or for when friends come over? Or just for fun singleplayer? What about backwards compatibility?
 * 2) Compare the games on each platform. Which console appeals to you more? Which appeals to whoever you're buying it for?
 * 3) Consider what you already have. Do you have an HDTV? What about your internet connection? What console(s) do your friends own (will you be playing with them alot? Do you have friends?)
 * 4) Think about the stuff ancillary to a console purchase; Do you want "free" games? Do you want to mod your console? Do you need a Blu Ray Player? Are you aware of the maintenance needs to prevent RRODs and YLODs? How long do you plan on using the console for?
 * 5) Think about the time. (Are you better off waiting for a price drop?, or waiting for games to be released?)

If all else fails, stop by a garage sale or used game store and pick yourself up a NES or SNES and ten or so games. Cheap, classic fun. (PC Emulation of classic games is a grey area and the original versions are always the best)

PS3 vs 360 vs PC
Currently these three platforms are seen as equal in terms of graphical power and strength in games. They also tend to share a great number of titles due to their similarity in controls. This outlook can soon change with the upcoming motion controls, but the core games will generally remain the same. Depending on the a your setup, the choice comes down to whether or not to own one or a mixture to cover all areas of games available. Of course, there are games found only on any of these particular systems, so the choice then comes down to your particular situation: The reasoning above has to do mainly to what is exclusive to each system in terms of pure numbers. The PS3's recommended list has generally more exclusives than it does cross platform or is available on PC. The 360's recommended list is geared more towards games that are available on both the PS3 and PC rather than exclusives.
 * 1) If you already own a gaming capable PC, it is generally better off that you go for a PS3.
 * 2) If you already own a PS3, then you have the choice between either a 360 (cheaper) or PC (expensive)
 * 3) If you already own a 360, then you are better off getting a PS3.
 * 4) If you own none of the above, use the general guide and price comparison to make your choice.

Price Comparison
PS3 Slim = $300/£250 Games: $50-60/£40-50

Xbox 360 Elite = $300/£200 Games: $50-60/£40-50

Wii = $200/£160 Games: $30-50/£20-40

Prices vary and you should be able to buy each with games attached (wii comes with 2 free games anyway)