Greenpeace has dismantled the PS3, 360 and Wii to check for some 'bad chemicals'. And it has found some, unsurprisingly (or we wouldn't have this report). Main point: if these were classified as toys, then they wouldn't pass the EU regulations - so at the very least, we have an answer for that question of whether or not these consoles are toys .
http://www.greenpeace.nl/raw/content/reports/playing-dirty.pdf
http://www.greenpeace.nl/raw/content/reports/playing-dirty.pdf