Both the Xbox 360 and Nintendo Wii have come down in price to an affordable $200; if you’ve always wanted a new console but couldn’t afford it (or simply couldn’t justify the expense), now is a great time to buy- but which one is right for you?

Let’s take a look at several important factors in choosing a console and see how the Xbox 360 and the Nintendo Wii stack up.

Graphics
No contest here:

Xbox 360

Nintendo Wii

Moving on!

Library
Both consoles are backwards compatible with their predecessors, the Xbox and Gamecube, respectively- yet the Xbox 360 has more best-selling games in their library than the Wii, and there’s no question which of the previous consoles was more popular. That said, it’s largely a matter of preference; fans of Nintendo classics and the Gamecube’s offerings will prefer the Wii’s library, while fans of best-sellers like Halo and Grand Theft Auto will prefer the Xbox 360.

Multiplayer Experience
Both consoles support up to four players, but offer a significantly different experience where multiplayer play is concerned. Which is the “better” console in this respect depends on you.

If you value the flexibility offered by online multiplayer and love classic 1 on 1 versus play with others who are already familiar with your favorite games, the Xbox 360 is the better choice.

If you would rather get your friends or family together to compete in person, the Wii offers an experience you’ll prefer- the controls are simple and very forgiving, so even non-gamers can learn a game quickly.

Online Play
Both consoles offer online play, but the Xbox 360 offers a much richer online experience, albeit at a monthly cost (Wii online service is free). If online play is very important to you, the Xbox 360 is the better choice hands down. Wii online play is restricted and one-dimensional to protect children from unsavory characters, and offers little incentive to the competitive gamer.

Price
“But Laren,” you say, “I thought you said both consoles were the same price!” On the surface, they are- but factoring in the cost of memory, peripherals, extra controllers, cables, adapters, and- of course- games, the actual cost turns out to be MUCH more than $200. Which is cheaper? In 2006, a Wii with all the bells and whistles ran about $600, and an Xbox 360 cost an astounding $760, making the Wii the better bargain. Now that the consoles both have a base price of $200, the discrepancy isn’t so bad- around $550 for a Wii and $560 for an Xbox 360 with comparable extras. The 50% drop in the price of the Xbox 360 is almost certainly an effort to catch up to the Wii in sales- with over 20 million more units sold than the Xbox 360, the Wii is by far the most popular of the 7th generation consoles.

Is either console worth that much money to you?
Which is more suited to your lifestyle and game preferences?