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I think around 350 or 400 bucks. As for the better console, it's likely the PS3 will have better graphical capabilities, but after seeing what the Xbox 360 can handle, I doubt there will be that much difference between the games.
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Well, one dollar=53 pence. So basically double any value in pounds to get a rough value in dollars. Well, I hope the Xbox 360 has amazing graphics anyway...