This machine rocks and is far superior to the 360, I own both so can give an honest view.
Straight out of the box and it plays blu ray movies, that alone is a bargain. The machine is so quiet you can actually watch a movie without it sounding like your on a long haul flight. Got a movie or music collection ? you can play films from usb drive or copy across. No problem with space as it's got 55gb free and if thats not enough you can upgrade the drive to 200gb without voiding your warranty. Bonus.
No batteries are required for the wireless controls, so no need to worry about them running out and having to purchase any. It has a Wireless connection for software updates, internet and online gaming, plus there is no need to pay for on-line gaming as its free !!!
Plug in a HDMI lead with this baby and the graphics on a nice 32" LCD look awesome, just watch the start of Motorstorm. If thats not got you, then check out a blu-ray movie, unbelievable.
This is not a games console, its an entertainment system that blows the competition out the water with looks and pure build quality. If you want an all in one system, then this is for you.
If you want a console that runs via a nuclear power brick, has more add-ons than a lego set, heats the room whilst sounding like a hairdyer, spits out scratched discs and then flashes 3 red lights.......then its not for you.