Honestly, unless you can find a used PS3 or X360 cheap, I wouldn't bother with the new consoles being around the corner.
It may be a year or so away, but a year or so away they're probably gonna be a ton less games coming out for the old consoles since developers will be focusing on the new consoles.
Not to mention if you buy one new right now, in a year or so you could just get the new one for like $200 more.
I'm going to have to disagree. Launch prices are always ******* stupid like $799 for the console, one controller and a shit launch game like Motorstorm. A good used console with games is like $200-$250