I am planning to buy one of these this weekend.
A few points before I ask for suggestions -
1.I do not have a HDTV yet , on buying list for march/april

2.I am used to psp and ps2 , played games on xbox too and find myself comfortable with that console also.
3.xbox offer - 15k , with 4 games , memory card to be bought separately ,1+2 years warranty
4.ps3 for 23k , 2 games,1 year warranty
5.No plans of watching movies on ps3 , it will be used only for gaming.
6.will be using only the original dvd's
from the deal i am getting I would prefer the ps3 , even though it is 6 k more expensive.I was wondering if waiting for ps3 80gb release would be worth a wait as it can pull the prices down of both the xbox and ps3.and then later on maybe I can get a 40gb ps3 with a price close to 20k.
Also would like to have your suggestions on which one to buy.Just a few major advantages of both the consoles would be good enough.
@manav : is the orange blinking light covered under warranty.