I am in a dilemma about which console to buy. Basically I wanted to purchase a console to supplement my Gaming PC. There are certain categories of games which are usually found only on the consoles like some one-on-one and hack and slash games that are fun to play as well as some high quality console only exclusives.

Initially I had my mind set on the PS3, but after some researching I found that while XBOX360 has a huge collection of good quality exclusives, PS3 does not seem to have many. But PS3 is more feature rich than the XBOX360 and the hardware is promising on paper. Also for the current lot of cross platform games, XBOX360 seems to have delivered better visuals than PS3 and to me it seems that the PS3 graphics sub-system is somewhat crippled compared to XBOX360.

Just to let you people know, I am not considering a Wii for the moment as it requires some space to actually have fun playing those games and I do not have any in my house currently.

Other factors that may influence the decision are the display and output modes. I have a Dell 2007WFP and this is going to be used for the games. No large sized LCD or Plasma TV's and I do not have any plans for any of those in the near future. I would probably get myself a 24/26/27" LCD Monitor in the future for 1080p support. Whats the best way to connect these consoles to my monitor.

Overall which console would give me the best value for my money?