Pretty sure only the 60gb ps3 is backwards compatible... I'm a 360 owner myself. Not that I'm against PS3, I've always been a big sony fan, probably would have bought the ps3 earlier if it hadn't been so expensive to start out. But there aren't that many great PS3 games out that aren't out on 360 too... COD4, Gears of War, Lost Planet, !@#$%^&*!@#$%^&*in's Creed, GTA 4 (+GTA series), Halo Series, Rainbow Six Vegas, Turok (decent), Bioshock, M!@#$%^&* Effect, The Orange Box, Alan Awake, Army of Two, Elder Scrolls, etc... I will say PS3 is a pretty !@#$%^&* good system though.. waiting for price to drop maybe another $50.00, doubt anytime soon but who knows. The Blu-Ray feature and free online play are definitely gonna win over some hardcore Xbox fans I'd bet.