A number of people seem to have issed the Media being in brackets. I didn't mean an MCE PC, but a PC to feed media. XB360 doesn't work as a standalone box. For a lot of technical people which likely includes the early adopters and innovators for XB360, their ordinary PC probably fits the bill. For most folks, it becomes a lot more doubtful. My PC certainly isn't up to the job. It also adds complexity to the media functions, in that you need a network, the other PC to be on, and if you use the PC for more than just media servings, you have the aggro of running an OS that eventually cludges up.
As a single box, PS3 seems poised to be the only real one-box solution, if all the promised and expected functions make it. In the total package department, PS3 is less relient on outside hardware. It'll be a unit that offers HD movies, TiVo, download content, music playback of most formats, communications with video, audio and text messaging, and internet browsing. Oh, and games
. I agree with paklotar that PS3 hasn't caught up with the total package yet, but the prospects to supercede XB360 in that department and high, IMO.