I have a first generation release PS1, PS2, and PSP they all work like new and I have never had any problems with them. While I won't stand in a line to get a system I will most likely get a PS3 by years end. Probably, the $500 version is better for me as I really don't need 60GB to store things, thats what I have a laptop for. Really, I couldn't care less about the BD player as I don't own an HDTV. I've never played F.E.A.R so that will be one that I pick up.