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My first console was a Mattel Intellivision when I was about 12. After that, I vaguely remember playing a rudimentary slam-dunk game on my Tandy 64-bit computer in the mid-80s... was it with Dr. J? I don't recall. (EDIT: it was "Dr. J vs. Larry Bird": http://en.wikipedia.org/wiki/One_on_One:_Dr._J_vs._Larry_Bird).
After that was a dark and joyless void, until I bought a PS1 in 2000. I got the PS2 in 2005 (I know, I tend to be a few years behind the curve).
After hearing the price of the soon-to-be-released PS3 (Five Hundred Ninety-Nine U.S. dollars), I stuck with the PS2 for two more years, at which point I finally got a next-gen console... a Halo 3 limited-edition olive-green colored Xbox 360, which was on clearance because this was a year after that console (and Halo 3) hit the market. That's how I roll ;-)
I upgraded to the Elite 360 about a year ago... happy with it for now. However, my next console is as likely to be a PS3 slim as a 360 slim. I'm just waiting for that next price drop... we'll see who hits $250 for 250gb first, shall we?