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The black, glossy looking and shiny machine that is basically like a PC so the 'value for money' must be worth it. It's even cheaper than a PC so you can't argue about that. It may be worth it but just like a computer after a few years you may start to see some problems occur. With a PC it will be easier to fix as we are more famaliar with the PC, whereas the PS3 you'd be praying the problems that occur isn't too serious as that may require you to purchase a new PS3 or getting it repaired (which doesn't guarantee that the problem won't occur after 3weeks of getting it fixed).
Besides that the PS3 has features that makes it more dominant over the Xbox that alot of people are familiar. PS3 features has an in-built Bluetooth/Wi-Fi connection, whereas the Xbox doesn't have a Bluetooth and to have a Wi-Fi connection enabled you will need to purchase that seperately, not only that but you will have to pay to use your internet on the Xbox. (Woahh, Why would I want to pay extra money for the xbox internet?, when I already pay my broadband service provider so I can have the internet.)
The Xbox downfall in comparison to the PS3 is much higher due to the vast amount of my fellow peers who have recieved what is called the 'Red Ring of Death' which basically is R.I.P Xbox. (Buy a new one) Recently my PS3 broke due to a faulty Blu-Ray which is one of the worse problem to have, so I called up sony and they offered to replace the PS3 with a refurbished one between the price range of £105-130 (I can't remember the price, but it's somewhere between that) Some people will say that's a loss of money but I believe spending money to get it repaired doesn't guarantee an end to the problem, whereas a new one is less likely to have any problems.