Alright, this is strictly my opinion based on my own circumstances, but this is what I have at least come to understand in terms of entertainment "systems" for my own personal use.

First off, there's only a handful of shows I would actually really like to watch. Usually it's movies that we watch the most. So all we have is standard cable with the additional channels that 'might' come in (anything above 13).

If I really want to see a show, I want to see it now. I want to see it without setting up something to record it, without hassling with downloads or ripping and burning and figuring out how to stream, dealing with various formats. I'm a geek but media time is not for frustrating me, it's for enjoying it instantly.

Xbox 360. I download the movies and shows I would want to see. I can watch within minutes while it's still downloading. Comes in various definitions. I can stream videos from my PC (even without need of Windows Media Center), music, pictures.

Yes the price is a little hefty on the 360, and the prices are a little bit high for on demand content right now, but you get what you pay for, instant entertainment, and I can justify it simply because I don't watch all that much TV. However there is that chance the show that you want isn't on the Xbox marketplace to begin with, but from what I can tell most major networks are availble. I think if I hadn't won the 360, I would have bought it anyway because it's capabilities improve all the time.

TL;DR
Xbox 360

Pros:
Instant Viewable Media
Games
PC Connectivity (stream mp3, vids, photos)
Pricing adjusted per quality
Hassle free
No commercials

Cons:
Price
Meida content pricing
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