Hey badmojo!
I really don't want to turn this into a PS3 vs XBox debate, but I do have both consoles and just want to point out the awesomeness of PS+ subscription.
Kmart and Target will sell the 12GB PS3 for $179 tomorrow. You then need an HDD bracket (cheap from JB) and any notebook SATA drive (I have a 750 hybrid SSD).
PS+ subscription is $70 for 12+3 months (a current promotion) and when you start you can download the entire instant came collection (10 games). Then every month 3 get replaced by new games. You can play these games as long as you have a subscription.
The value is unbelievable.
I got my PS3 in August I believe and so far have:
Assassin's Creed 3
Stealth Inc: A Clone in the Dark
ICO and Shadow of the Colossus
Mafia II
Catherine
Malicious
Spec Ops: The Line
Need for Speed Most wanted
Saints Row: The Third
PAYDAY The Heist
Jak and Daxter Trilogy
Unchartered 3
XCOM Enemy Unknown
LittleBigPlanet Karting
Battlefield 3
All these games don't cost anything.
Next month will get 3 new games including Far Cry 3!
The only games I purchased ontop of PS+ games are WipeOut HD because it was cheap and GTA5 😀
I haven't bought a single game on the Xbox 360. I have the 4GB version and they make it hard / impossible to upgrade the HDD yourself.