"First HD" console is pretty irrelevant IMO. There have been a lot of upgrades in resolution over the years. The Atari 2600 was a 160x260 console. The NES was a 256 x 240 console. It wasn't until the PS1 gen that consoles were even capable of 640x480 (a huge improvement over 160x260!), and it wasn't until last gen that it became standard. Why isn't the first system to have 256 colors equally important? Or the first system to have uh, more than 256 colors? I think it's because OMG HD GENARATION was a major marketing slogan. And is it really the first time to shift to "advanced shading and physics effects"? More advanced than the last generation...but that's true of every generation.
That's the problem with writing a "retrospective" about a current product. Half of the review is going to be going ga-ga over how advanced it is, when today's "advanced" is tomorrow's "dated."
I also don't believe that very many people are buying the Xbox 360 primarily for the NXE interface and Facebook support. In other words, when the games start to look tired and busted compared to the latest graphics technology, its user base will want to move on to something better, even if a new Twitter-related feature is on the way.
FWIW (systems I actually have first-hand knowledge of, no current systems):
14. Jaguar (Worst console ever made. What a pile of crap this was.)
13. Saturn (Big failure, lots of terrible games, but had some great 2D fighters!)
12. TG-16 (Not bad, not special, but some great SHMUPs!)
11. Dreamcast (Most overrated console of all time, lots of crappy games ported from PS1, a handful of gems, terrible controller, stupid VMUS, finally put Sega in the grave it dug for itself.)
10. Xbox (Basically a busted, casualized PC with lots of busted PC ports and PS2 ports, but made online console gaming what it is)
9. Gamecube (Had a lot of awesome, underrated games. Indestructible, too! I am biased toward this one.)
8. Colecovision. (Much better graphics than the Atari 2600, lots of good games for this one)
7. Nintendo 64 (The last great arcade-style gaming console, controller defined 3D console gaming until the Wii, made the FPS accessible, but a lot of crappy games and nearly killed Nintendo)
6. Sega Genesis (Changed gaming from "for everyone" to "console war OMG HARDCORE," but had lots of awesome games. Sports games really took off with Genesis. Sega's only great product.)
5. Playstation 2 (The SNES of the cinematic generation)
4. Super Nintendo (Awesome games, pinnacle of 2D gaming)
3. Playstation 1 (the foundation of console gaming up until the Wii)
2. NES (rebirthed console gaming as mainstream again)
1. Atari 2600 (made console gaming mainstream, for everyone)