I think it's a "neat" system, but, I just haven't seen anything to get so excited about. I mean, if "GAMEPLAY" is the reason we play games, then take a look at the launch line up. Out of the 18 games, 12 are available on other platforms (XBOX, PS2, GC, PC). Of the remaining 6 titles, only 3 are not direct sequals to games available on other platforms. Of those 3, Kameo was in development for the CG and XBOX, and just now is coming out. So, it's "basically" a port too. Condemmed? Oh, you mean the dark as DooM 3 game with CSI elements (and short gameplay from what I've read?). No thanks. I mean, come on, a console should have at least ONE big title that NOONE else has (or has had something similar enough to) that makes it stand out.
Other than Gears of War, I have yet to see ANY of the launch titles that interest me enough to pony up the $400+ it takes to play them. As much as I was rooting for the 360 to have a decent showing (even thou I was not planning on buying one at launch), if Sony can do what it says and hit the $300 to $400 mark with the PS3, M$ is gonna be in 2nd place (possibly 3rd) yet again. Sony WILL take a hit on the PS3 if it means getting Blu-Ray accepted. It's the old Gillette method...give away the razors, sell the razor blades.
And, Sony has a proven record for being able to get people (at least the Japanese) to adopt their platform as something other than a game system. Many Japanese people picked up a PS2 as a DVD player (since it was the cheapest on the market), and VCDs were the format of choice before that. Sony knows owning the platform (Blu-Ray) is where the long term real money is made. If you don't think Sony will do EVERYTHING it can to get people to adopt it's hardware to support their Blu-Ray platform, then you've got another thing coming.
Anywho, back to the 360. I'm still in a "wait and see" mode as to when a game will come out that EVERYONE will say, "now THAT'S a next generation title." I know plenty of fanboys lined up to get one. But, when you consider that whole 2/3 of the launch titles being available elsewhere bit, it seems kinda silly to jump in at this point...and at such a higher price, a 33% increase over the XBOX launch price (functionality vs functionality, i.e. a console w/hard drive).