I woudl go with the xbox and hack it.. best $200 i ever spent..
play old arcade games on your xbox : MAME
play the old laser disc games on your xbox
tones of emulators, c64, nintendo etc.
and the best reason of all to have a xbox and hack it is
XBMC (Xbox Media Center)
screen shots..
http://www.xboxmediacenter.de/info_screens.htm
blow away any lame ass pc that you have hooked to your TV to watch
and listen to video or audio content!
I do have both tho, mainly to play GTA: San Andreas.. but thats coming to the xbox as well this year..
new gadgets to look out for is Sonys PSP..
http://psp.ign.com
