[quote name='Slappybob']Is this a backwards compatable(sp) system ?[/quote]
Unfortunately no. The 40gb are exactly the same as the new 80gb except for hard drive size (obviously).
[quote name='gamernut']This deal sounds iffy, does anyone think of it that way.
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Honestly, unless you need a PS3 right away for some reason, I suggest holding off on buying one right now. There are a bunch of rumors that predict a $100 price drop on 80 GB PS3s in April, which, in turn, will bring down the price of a used one.