I conned mine into a $250 Atari 2600.

AND add to that $40 - $50 game cartridges.
PS My kid has had a PS2 since he was 5, and five years later, he is still happy using it. No PS3 or XBOX or Wii. Too many games bought on PS2. Oh, he has asked from time to time, but there has been no demand in our house for a PS3 from him. NOW, HD DVD, on the other hand... he is very happy having that in the house
Oh, but back on topic... if we had a PS3, I am sure we would use it for BD. Heck, then we'd have both formats, and there would be no issues.