Submitted by: kirkland on Friday November 17th, 2006 at 06:35 PM EST

For hard-core aficionados of console video games, this week is pure heaven--and hell.

In the space of a few days, Sony and Nintendo are releasing their next-generation consoles to join the early bird Microsoft Xbox 360 in a three-way horse race for gamers' loyalties, attention and greenbacks.

Sony got the ball rolling last weekend with the Japanese launch of its PlayStation 3 in Tokyo. The North American launch in New York and San Francisco followed a few days later, with events leading up to its release midnight Thursday. Hundreds lined up in cities across the U.S. to be among the first to own the new machine, which features a Blu-ray high-definition DVD player. Some buyers had been waiting in line in inclement weather for more than three days.

Of course, not everyone in line to buy the PlayStation 3 was a gamer. Many of those waiting said they had no plans to play the console. Although its retail price is $500 for a 20GB hard drive and $600 for a 60GB version, those in line said they believed a single PS3 console could bring in $1,000 to $3,000 if auctioned on eBay, Craigslist or to family and friends.

» Full story @ ZDNet