Okay...to play a little devil's advocate here...
First...the problem with touting a console's power is that it doesn't mean $h!t come game time NOW. If the Sega Genesis is less powerful than the SNES...why would it EVER be able to build an advantage against the SNES?
Because it was out first, and gave MORE BETTER GAMES NOW.
The SNES regained it's lead in a few years, but not before the irreversible damage was done.
Why did the N64, a technically superior console, and the only one able to overcome the limitations of cartridges (don't believe me? Rent Resident Evil 2 for N64-full version, with FULL FMVs, better graphics, NO LOADING TIME, and typical N64 CD-quality sound...:Q)
Because the PSX had MORE BETTER GAMES NOW.
When Joe Sixpack buys a console, he buys the one that fulfils it's promise of more, better games the quickest. The X-Box can't depend on just Halo and DOA3 as its Triple-A games for THIS long...a killer app should have come out by now! The Gamecube has Smash Brothers and Rogue Squadron, as well as Pikmin as killer apps. The PS2 survived it's first year on hype, and when Twisted Metal Black came out, a flood of killer apps came out...BOTH of these guys don't have the same power as X-Box...so what?
Second, let's not deny the insides of the systems. 99% of systems in the past have used specialized NON-x86 processors...like StrongARMs and Z80s, 6502a and 68000 series chips, SH1/2/4 chips...and more recently, MIPS R4300 series and friends.
The XBox breaks the trend by using a TRUE X86 processor...if you want to be real direct about it, it uses a P3-733 with half the cache, or a Celeron 733 with ALL the P3 instructions and features...
Also, previous consoles used non-PC standard graphics rendering chips...more RISC, MIPS, SGI, and other sub-processors. The DC started to converge with PC by using a PowerVR series 2 chip in it...
The XBox literally bridges the gap with a Geforce 3 series GPU, referred to as the NV2A. It's a PC Geforce 3 GPU with an extra vector unit for a little extra power...nothing that wouldn't be equaled PC-wise with a good OC and a dope-ass monitor...
Then, the XBox does even more to "distinguish itself" from normal consoles by adding the HDD and the Win2K OS kernel.
What is the XBox, therefore?
A PC with modified P3-733, modified GF3Ti, 10GB HDD (2GB for OS info/usage), 4 modified USB ports, a standard 10/100 ethernet card, running 32-bit Win2K Pro "shell", in a sleek black "X-adorned" case...
Perhaps it's not supposed to be a PC, but ABSOLUTELY NO CONSOLE IS EVEN CLOSE TO THE PC-ness of the XBox.
The good about the PC-ness of XBox is that games can have a lot more power then they used to...the bad of it is that...it is NOT a real console! It was seemingly designed for games to become an afterthought, just a part of the wired home, not the FULL-FLEDGED hobby it was, is, and is supposed to be! I don't believe the XBox is a good console; in fact, I believe that it is the ANTITHESIS of consoles, merely a digital trojan-horse!
I do like Halo though... And before anyone flames me for not having one:
I DO!
And I only play Halo and DOA3...nothing else is really good enough to buy.