Yes, I know the 360 would be more of an obvious choice. But there are a lot of other things that I would also want, for other reasons. Here's my scenario:
I'm your average procrastinator/programmer. I need something that will help me do my work (which is almost always something such as typing essays), but also keep me entertained for those times where I'm just stressed out. Now, the 360 definitely will not help me do my typed work. For this reason, I considered getting a netbook. Why the heck not? It's slow enough to help me focus on my typed work, but also can play 720p video (which is more than enough for me).
Then, I thought price-wise. Again, the xbox was not a contender here. I thought about other things that I could get. Maybe an iPod Touch, or a PSP. Those are both viable solutions for around 200 (Canadian) dollars. They are both very, very portable, and have good battery life. Of course, doing work on them is impossible. But that's what I have my desktop PCs for (but a netbook would still be an option, for reasons stated in the previous paragraph).
Then, I look at entertainment value. The xbox instantly rockets to the top of my list in this category. It would provide high definition gaming and plays DVDs. It's also a blast to have when friends come over. It really is a clear winner.
Lastly, I look at availability. And not whether it's available in stores or not, it's how much of the day can I use it for. With the 360, I can't always plug it into the HDTV, since I'm not the one that uses the TV. Other family members that I live with use it a lot more than I use the computer (which is saying something...)! Where as a netbook, iPod Touch, and PSP are always available to me - wherever and whenever.
So in short, let me sum this up with some pros and cons:
Xbox 360:
Pros:
-Optimal entertainment value
-Would be a first seventh-gen console (I know, I know...)
Cons:
-Can't always use the HDTV
-Not portable
-More expensive than PSP/iPod Touch
-Most expensive(in the long run)
iPod Touch/PSP
Pros:
-Least expensive option
-Most portable
Cons:
-Low resolution entertainment
-Limited functionality
Netbook
Pros:
-Portable, but not as portable as iPod Touch/PSP
-Tireless entertainment (720p movies and videos)
-Can do(home)work on it
-Fun toy (

)
Cons:
-Most expensive up-front (but less expensive than an xbox in the long run)
I'm ripping my head off trying to decide. I kinda prefer the netbook myself. Except I don't know if it will be worth it. Right now, in the running are:
Xbox 360 Elite Holiday Bundle + CoD MW2
Asus EEE PC 1005HA (long battery life, supposedly)
iPod Touch 8GB (inexpensive, yet still suits my purpose)
PlayStation Portable (least expensive)
Thanks to anyone who can help!
... Long post.