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The reason for the 4 or so year life span of the old Xbox was due to it being late to the game and then the 360 being first to market. Consoles only really become profitable about a year or maybe two after they are released so a 4 year turn around does not make sense again and almost certainly won't happen.
Look for a new Xbox about 2010, giving this system a full 5 year life span. You may even be able to push it another year for two reasons: (1) The PS3 is still relatively new and was very costly to Sony (so they won't be in a rush to make a new system until they've firmly re-established the Playstation as a pack-leading console) and (2) Nintendo won't be the first to move, they have the hot selling Wii don't seem to want to or need to push the envelope anymore in terms of getting a new console to market.
Definitely jump in now. The games are great and the consoles are pretty affordable. A $279 dollar entry price for a 360, with 2 games (not including the warranty you should buy) is a great deal.
And rest assured, there is a new and better console in the works. There always is, but that shouldn't worry you, 2-3 years is a very long time to enjoy the current Xbox.
just dont buy an elite... can anyone say waste of money? only good thing would be the cool color lol i havent run out of memory on my normal hard drive yet so the extra memory probably not gonna make a difference
Thank you for the reply. You went into great detail and it makes sense about the profit and the PS3 and Wii, I never thought about that. Once again thanks!ikensee
No problem bud. Just, ah, don't get angry at me if I'm wrong and the Xbox 720 is announced for next christmas haha.
When you do finally decide to get a 360, check out this site. It does a pretty good job of listing the best deals around for the 360.
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