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Regarding a PS3, history shows that consoles have an about 5 years life cycle, so Sony's next console will be released in about 2004/5, whether the competition from Gamecube and Xbox will shorten this time who knows only time will tell.
Do not worry what is coming in the future but look at today, 2002 is going to be a golden time for consoles and games with 3 great machines on the Market and this can only be good for us, the consumer as developers release great games to compete with one another.
Yeah the Xbox is more powerfull, but theres only about 3 games that I would like for it. If this was a perfect world and I had money I would buy an Xbox too. But I have no money and consoles and games are so expensive I cant afford it.
Nintendo can make some good games, but im not really in to that cute and cuddely thing.
So I think PS2 is best, then Xbox and last and certainly least nintendo gamecube. It really comes down to the games and what console you had before.