jerreece :
Not to mention EVERYTHING you're loading into memory comes off a CD-ROM or DVD-ROM, rather than a faster transfer off a modern hard disk... Not like that matters as much when you're using old school hardware anyhow.
Well that depends on what ur using....that mostly affects loading speeds. But for the PS3 at least on MGS4, it installs sections of the game onto the hard drive. Can still be slow on some loads, but it definitely helps. I believe Xbox now lets u do that on their new update.
As to Cyber the fact that games are graphics card dependent are much more important to Computers than consoles. Computer processors are general so that they can do all types of computations, not just floating point.
Processors like the Cell and Tri Core in the Xbox are developed more specifically to run constant floating point calculations for gaming so in that respect processing power definitely helps in consoles. Its not just the gpu in there.
The only game recently that has the Xbox rly beat the PS3 was in Fallout 3. I played it on all 3 systems.
First was PC by far, followed by Xbox and then the PS3. The Xbox had better lighting effects but again all that comes from the coding of the developers...