I've owned many of each of the 6th Generation consoles (Dreamcast, PS2, XBOX and Gamecube), the only one I've ended up holding onto is the XBOX (this is my second one - broke the network port don't ask) because I put a 120GB hard drive in it, it's running Linux/XBOX Media Centre and it kicks complete arse.. most powerful of the 6th Generation, and it's got emulators so I can play NES (got 10,785 roms), SNES (got 6766 roms), N64 (got 160 roms), Arcade (got 13GB+ roms) and more, the games for it aren't that bad either but I hardly play them, use it for it's other functionality.. Any type of media I throw at it, it can just play, has 720p/1080i output and 5.1 digital surround which isn't that spectacular but it's alright.
I've pre-ordered and am picking up my Wii on Thursday, the reason I chose it is because for too long video game system have been the same, and if Nintendo didn't make the Wii-remote they still would be (Sony copied the idea for their sixaxis controller at the last minute). XBOX 360 to me brings nothing new, just updated graphics.. though I would like the HD-DVD drive for it for my Computer (plug and play!). When the PS3 gets cheaper and better build quality (LOL @ Sony) I might get one because it would make full use of the HDTV and 7.1 we have, and using it as a computer would be alright however the Wii is only 480p and 5.1, but the controller is the reason I'm getting one.. and I know I should be saving up for the computer upgrades (got the x2 3800 sitting here in it's box waiting for motherboard/graphics/ram/case/psu/hard drives/optical drives/everything) but it's too tempting, if I don't like it on eBay it might end up lol
Whoever said that the PC will be able to emulate XBOX 360, PS3 or Wii must be on drugs, that will take at least 15 years to happen. They're no where near full speed 6th Generation emulation yet and it's been nearly 7 years (except for Dreamcast but it's buggy as hell).